EUR/USD faces resistance at 1.1438,sell on rallies
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
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
