EUR/USD: 161.8% retracement and 200 day MA (good to go short)
Major support – 1.0900 (161.8% retracement of 1.14155 and 1.0971).
Major resistance – 1.1100 (200 day MA)
The pair has broken major support 1.1000 and declined till 1.09119 after Britain vote to leave EU.
It is currently trading around 1.10276. Short term trend is weak as long as resistance 1.1100 holds.
Any break above 1.1100 will take the pair to next level till 1.1175/1.1235 (61.8% retracement of 1.14278 and 1.109119).
On the lower side, any break below 1.1000 will drag the pair down till 1.0834 (61.8% retracement of 1.10852 and 1.09119).
It is good to sell on rallies around 1.1035-1.1040 with SL around 1.1100 for the TP of 1.0901/1.08035.
Major resistance – 1.1100 (200 day MA)
The pair has broken major support 1.1000 and declined till 1.09119 after Britain vote to leave EU.
It is currently trading around 1.10276. Short term trend is weak as long as resistance 1.1100 holds.
Any break above 1.1100 will take the pair to next level till 1.1175/1.1235 (61.8% retracement of 1.14278 and 1.109119).
On the lower side, any break below 1.1000 will drag the pair down till 1.0834 (61.8% retracement of 1.10852 and 1.09119).
It is good to sell on rallies around 1.1035-1.1040 with SL around 1.1100 for the TP of 1.0901/1.08035.