• Major resistance- 1.0623 (200- day MA)
   
• Major support – 1.05200


• EUR/USD has broken major support at 1.05800 and declined till 1.05333 at the time of writing. The pair is facing major support at 1.05200 and any further weakness only below that level. It is currently trading around 1.05382.


• On the higher side 1.0623-1.06330 (200 H MA and Feb 19th high) will be acting as major near term resistance and any break above targets 1.0689 (21- day MA).It should close above 21- day MA for further bullishness . Any break above targets 1.0745/1.0800 level. Short term bearish invalidation only above 1.08735. The minor resistance is around 1.06700 (55- day EMA).
   
• The next immediate support is around 1.05200 and any break below will drag the 1.04500 (Jan 11th 2017 low)/1.03400 (Jan 3rd 2017 low).
  
  It is good to sell below 1.05200 with SL around 1.05800 for the TP of 1.04500/1.03450