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Short

EUR/USD: Watch out for 1.06850

FX:EURUSD   Euro Fx/U.S. Dollar
371 0 8
Major resistance – 1.06850 (tend line joining 1.08167 and 1.07456)

Major support – 1.0580

The pair has slightly recovered from the low of 1.0580 and jumped till 1.0649 at the time of writing. It is currently trading around 1.06217.

EUR/USD             faces strong trend line resistance at 1.0680 and any violation above will targets 1.0750/1.08200.

On the lower side, any break below 1.0580 will drag the pair till 1.05400 (161.8% retracement of 1.0580 and 1.06490)/1.05000 in the short term.

It is good to sell on rallies around 1.0680-1.06850 with SL 1.07500 for the TP of 1.05800/1.0525

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