Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:EUR/USD faces strong resistance at 1.06800, good to sell on rallies

  • Major resistance – 1.0687 (Jan 12th high).
     
  • Major support – 1.04500.
     
  • EUR/USD trimmed it s gains after reaching till 1.06800 on account of Theresa May key speech on Brexit tomorrow.
     
  • Theresa May said in the recent interview that control over immigration and national sovereignty has higher priority list than access to EU single market.
     
  • On the higher side , the pair should break above 1.06800 for further bullishness till 1.0798 (Dec 5th high)/1.08730 ( Dec 8th high). 
     
  • The major support is around 200- HMA at 1.05600 and any violation below will drag the pair down till 1.0518 (20- day SMA)/1.04800/1.04500 (Jan 11th low).

It is good to sell on rallies around 1.0600 with SL around 1.0660 for the TP of 1.05180/1.04540. 
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.