EUR/USD faces support at 1.1000, break below targets 1.0830
Major support -1.1000 (200 day 4 HMA)
Major resistance – 1.10550 (support turned into resistance)
The pair has made a low of 1.1003 yesterday and recovered from that level. It is currently trading around 1.1033.
Intraday trend is weak as long as resistance 1.10550 holds.
Any break above 1.10550 will take the pair till 1.1088/1.1125/1.1140.
Short term bearish invalidation only above 1.1150.
On the lower side any break below 1.1000 will drag the pair down till 1.1092/1.10825
It is good to sell on rallies around 1.10375-400 with SL around 1.0880 for the TP of 1.100/1.0920/1.0830
Major resistance – 1.10550 (support turned into resistance)
The pair has made a low of 1.1003 yesterday and recovered from that level. It is currently trading around 1.1033.
Intraday trend is weak as long as resistance 1.10550 holds.
Any break above 1.10550 will take the pair till 1.1088/1.1125/1.1140.
Short term bearish invalidation only above 1.1150.
On the lower side any break below 1.1000 will drag the pair down till 1.1092/1.10825
It is good to sell on rallies around 1.10375-400 with SL around 1.0880 for the TP of 1.100/1.0920/1.0830
