EUR/USD faces strong support at 1.05800, good to sell on rallies
Major resistance – 1.07600 (21- W EMA)
Major Support – 1.05800
EUR/USD has formed a bottom around 1.06075 in the previous week and jumped slightly from that level. It is currently trading around 1.06439.
On the higher side immediate resistance is around 1.06830 and any break above will take the pair till 1.0760/1.0800/1.08288 (Feb 2nd 2017 high). The pair should break above 1.08735 for further bullishness.
The pair major support stands at 1.05800 and any break below will drag the pair till 1.0500/1.04500.
Short term bearish Invalidation only above 1.08735.
It is good to sell on rallies around 1.0675-1.06800 with SL around 1.07600 for the TP of 1.0500/1.04500.
Major Support – 1.05800
EUR/USD has formed a bottom around 1.06075 in the previous week and jumped slightly from that level. It is currently trading around 1.06439.
On the higher side immediate resistance is around 1.06830 and any break above will take the pair till 1.0760/1.0800/1.08288 (Feb 2nd 2017 high). The pair should break above 1.08735 for further bullishness.
The pair major support stands at 1.05800 and any break below will drag the pair till 1.0500/1.04500.
Short term bearish Invalidation only above 1.08735.
It is good to sell on rallies around 1.0675-1.06800 with SL around 1.07600 for the TP of 1.0500/1.04500.
