EUR/USD faces strong resistance at 1.136,good to sell on rallies

FX:EURUSD   Euro Fx/U.S. Dollar
241 0 9
Major resistance- 1.12630 ( 50% retracement of 1.16163 and 1.09115).

Major support – 1.1209 (100- day MA).

Major resistance - 1.13660 (Aug 18th high)

Major support - 1.1229 (21- day MA)

EUR/USD             has declined sharply till 1.1240 from the high of 1.13240 yesterday after ECB kept its interest rates unchanged.

The European Central Bank has kept its $1.9 trillion stimulus unchanged at policy meeting as deflation closes in.

The pair is facing strong resistance at 1.13660 and any break above 1.13660 will take the pair to next level till 1.1400/1.14350..

On the lower side, any violation below 1.1220 will drag the pair till 1.1200 (100-day MA)/1.11400.

Short term weakness only below 1.1045.

It is good to sell on rallies around 1.1300 with SL around 1.13660 for the TP of 1.1200/1.1140
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