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Short

EUR/USD upside capped by 21- 4H EMA, good to sell on rallies

FX:EURUSD   Euro / U.S. Dollar
224 0 10
Major resistance – 1.06305 (Feb 27th high)

Major support – 1.05150 ( trend line joining 1.04935 and 1.05143)

EURUSD             shown mild decline below 1.05200 level and had started to recover from that level. The pair has shown a jump till 1.05717 but its upside capped by 21- 4H EMA . It is currently trading around 1.05272. Any violation above 21- 4H EMA will take the pair till 1.06305/1.0680.

On the lower side, next immediate support stands at 1.05150 and any break below targets 1.04935 (Feb 22nd 2017 low)/1.04530 (Jan 11th 2017 low)/1.03400.

Short term bearish invalidation only above 1.06800.

It is good to sell on rallies around 1.0530-1.0535 with SL around 1.05800 for the TP of 1.04935/1.04530
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