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FxWirePro: EUR/USD faces strong resistance at 61.8% fibo, good to sell below 1.07390

  • EURUSD broke above 1.0750 and hits three week high in today European session amid a solid jump in the German bund yields. The pair hits 1.07750 at the time of writing and is currently trading around 1.07449.
     
  • The minor support for the day is around 1.0739 (hourly Kijun-Sen ) and any violation below will drag the  pair down till 1.06965 (23.6% retracement of 1.0775 and 1.0594)/1.06400 (200- HMA). The near term resistance is at 61.8% fibo (1.0775) and any indicative break above will take the pair till 1.08288/1.08735/1.09058 (Mar 27th high).Minor weakness can be seen only below 1.07390.
     
  • In the hourly chart EURUSD has formed bearish divergence in the RSI and MACD. So a mild dip till 1.06500 likley.

    It is good to sell below 1.07390 with SL around 1.07800 for the TP of 1.06800/1.06450.

 

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