EUR/USD faces resistance at 1.1438,sell on rallies

FX:EURUSD   Euro Fx/U.S. Dollar
296 0 6
Major resistance -1.4380

The pair has made a high of 1.14376 and retreated from that level after better than expected US Non Farm Payroll data. It is currently trading around 1.13862.

Short term trend is slightly weak as long as resistance 1.14380 holds.

Market awaits US Non Farm Payroll data which is to be released for further direction.

US economy has added 215K jobs in Mar compared to forecast of 205K and unemployment rate increased to 5% compared to 4.9% in Feb.

Any break above 1.14380 will take the pair to next level around 1.1500/1.15486.

On the lower side major support is around 1. 1320             and break below targets 1.1280/1.1200/1.1155.

Short term trend reversal only below 1.1050.

It is good to sell on rallies around 1.1395-1. 1400             with SL around 1.14380 for the TP of 1.1280/1.1200
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