EUR/USD upside capped by trend line resistance, sell on rallies
Potential Reversal Zone (PRZ) - 1.06600 (trend line joining 1.1299 and 1.08288)
EURUSD got a renewed selling pressure at higher levels around 1.06400. The pair has once again broken the 1.06000 handle. It is currently trading around 1.05769.
The pair’s further jump will happen only above 1.06600 level. Any break above 1.06600 will take the pair till 1.07200/1.07450 level.
On the lower side, major support is around 1.04900 short term low formed at Feb 22nd 2017. Any break below confirms further bearish continuation and any break below targets 1.04500/1.03400. The minor support is around 1.05800/1.05200.
It is good to sell on rallies around 1.06050-1.0610 with SL around 1.0660 for the TP of 1.0520/1.04960
EURUSD got a renewed selling pressure at higher levels around 1.06400. The pair has once again broken the 1.06000 handle. It is currently trading around 1.05769.
The pair’s further jump will happen only above 1.06600 level. Any break above 1.06600 will take the pair till 1.07200/1.07450 level.
On the lower side, major support is around 1.04900 short term low formed at Feb 22nd 2017. Any break below confirms further bearish continuation and any break below targets 1.04500/1.03400. The minor support is around 1.05800/1.05200.
It is good to sell on rallies around 1.06050-1.0610 with SL around 1.0660 for the TP of 1.0520/1.04960
