Major resistance- 1.11660 (21 day 4H MA)
Major support – 1.11160 (200- day MA)
EUR/USD has jumped till 1.11660 yesterday and started to decline from that level. It is currently trading around 1.11424.
The pair is facing strong support at 1.1110 (200- day MA) and any violation below confirms minor weakness, a decline till 1.1045/1.1000 is possible.
On the higher side, any break above 1.11660 will take the pair to next immediate resistance at 1.12150 (100- day MA)/1.1260.EUR/USD must close above 100-day MA for further bullishness.
It is good to buy above 1.11660 with SL around 1.1100 for the TP of 1.12150/1.1260.
Major support – 1.11160 (200- day MA)
EUR/USD has jumped till 1.11660 yesterday and started to decline from that level. It is currently trading around 1.11424.
The pair is facing strong support at 1.1110 (200- day MA) and any violation below confirms minor weakness, a decline till 1.1045/1.1000 is possible.
On the higher side, any break above 1.11660 will take the pair to next immediate resistance at 1.12150 (100- day MA)/1.1260.EUR/USD must close above 100-day MA for further bullishness.
It is good to buy above 1.11660 with SL around 1.1100 for the TP of 1.12150/1.1260.