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- EUR/USD has seen a huge selling pressure in today’s Asian session. The pair breaks major support of 1.05180 and declined till 1.05048 after the Italian vote No in Sunday’s constitutional amendment referendum.
- The pair slightly jumped till 1.05950 after the making a 21- month low .But upside is capped by 10 –day MA (1.06115). Any violation above 1.06115 will take the pair to 1.06500/1.06900 level. Short term bullishness can be seen only above 1.07015 (23.6% retracement of 1.12994 and 1.05180) and any break above will take the pair till 1.0755/1.08167.
- On the lower side , any break below 1.0500 will drag the pair down till 1.0456 (Mar 2015 lows)/1.0400.
It is good to sell on rallies around 1.05700-1.0575 with SL around 1.0650 for the TP of 1.04800/1.0400
