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Short

EUR/USD faces strong resistance around 1.1218, targets 1.1035

FX:EURUSD   Euro Fx/U.S. Dollar
648 0 13
EUR/USD             has recovered till 1.12123 and retreated from that level. It is facing strong resistance around 1.1218 ( 61.8% retracement of 1.1465 and 1.08190) and any break above only will confirm further bullishness.

Any break above would extend gains till 1.1250/1.1280 in short term.

On the downside minor support is around 1.1130 and any break below will drag the pair further down till 1.1080/1.1035/1.100.

Bearish invalidation only above 1.1218.

It is good to sell on rallies around 1.1175-80 with SL around 1.1220 for the TP of 1.1085/1.1035
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