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Short

EUR/USD faces strong resistance at 100-day MA,sell on rallies

FX:EURUSD   Euro / U.S. Dollar
222 0 10
Major resistance - 1.1208 (100- day MA)

The pair has made a high of 1.12070 yesterday and started to decline from that level. It is currently trading around 1.11885.

In the daily chart EUR/USD             is facing strong resistance at 100- day MA and further bullishness can be seen only above that level.

Any break above 1.1208 will take the pair till 1.12600/1.1300.

On the lower side, minor support is around 1.11800 (55- day EMA ) and any break below targets 1.1118 (200- day MA)/1.1045.

It is good to sell on rallies around 1.1200 with SL around 1.1260 for the TP of 1.1118
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