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EURO faces strong resistance at 1.1455,good to sell on rallies

FX:EURUSD   Euro/U.S. Dollar
348 1 13
Major intraday resistance- 1.1455 ( trend line joining 1.15295 and 1.14770)

Major support – 1.1340 (200 day 4 HMA )

The pair has made a high of 1.14770 on Friday and started to retreat from that level. It is currently trading around 1.13885.

Short term trend is slightly weak as long as resistance 1.1530 (May 4th high) holds. On the higher side any break above 1.1530 will take the pair to next level till $1.1600/1.1620 level.

EURO‘s minor support is around 1.1380 and break below will target 1.1340/1.1270/1.1200.

Overall bearish invalidation above 1.16200 level.

It is good ot sell on rallies around 1.14000 with SL around 1.1455 for the TP of 1.1340/1.12720
The return northward has just begun. 7:20 a.m. New York.
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