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Short

EUR/USD faces resistance at 1.1380, good to sell on rallies

FX:EURUSD   Euro / U.S. Dollar
947 1 17
Major intraday resistance - 1.1320 (7 day EMA )

Major resistance - 1.13766 ( 61.8% retracement of 1.1464 and 1.12337)

The pair has jumped till 1.13168 yesterday and declined from that level. It is currently trading at 1.13006.

On the lower side minor intraday support is around 1.1270 and any violation below that level will drag the pair to next level 1.1230/1.1180 level. Further weakness can be seen below 1.1150.

Break below 1.1150 will take the pair till 1.1050 level.

The pair is facing resistance around 1.1320 level and any violation above this level will reach till 1.13766/1.1400/1.1460 level.

Overall bearish invalidation only above 1.1465.

It is good to sell on rallies around 1.1320 with SL around 1.1380 for the TP of 1.1235/1.1180

Thank you Sir. Have a nice and profitable trading week.
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