FxWirePro: EUR/USD faces strong trend line resistance at 1.06850, good to sell on rallies
Monday, November 21, 2016 10:41 AM UTC
- Major resistance – 1.06850 (tend line joining 1.08167 and 1.07456)
- Major support – 1.0580
- The pair has slightly recovered from the low of 1.0580 and jumped till 1.0649 at the time of writing. It is currently trading around 1.06.
- EUR/USD faces strong trend line resistance at 1.0680 and any violation above will targets 1.0750/1.08200.
- On the lower side, any break below 1.0580 will drag the pair till 1.05400 (161.8% retracement of 1.0580 and 1.06490)/1.05000 in the short term.
It is good to sell on rallies around 1.0680-1.06850 with SL 1.07500 for the TP of 1.05800/1.0525
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