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Short

EUR/USD faces strong resistance at 1.132,good to sell on rallies

FX:EURUSD   Euro Fx/U.S. Dollar
337 0 15
Major resistance – 1. 1320            

Major intraday resistance – 1.12650 (200 day 4H MA)

The pair has slightly recovered after making a low of 1.12150 on Friday .it is currently trading around 1.12480.

Short term trend is slightly bearish as long as resistance 1. 1320             holds.

On the higher side major intraday resistance is around 1.12650 and break above targets 1.1320/1.1380/1. 1400             . The pair should close above 1. 1400             for further bullishness.

The support is at 1.1200 and nay violation below that level targets 1.11500/1.10500 level.

It is good to sell on rallies around 1.1250-55 with SL around 1. 1320             for the TP of 1.1150/1.1050
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