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FxWirePro: EUR/USD bears in full control despite weak US economic data dip till 1.12150 is possible

EUR/USD is trading below 1.1300 after a minor jump till 1.13098 level yesterday. The pair was trading weak despite weak US retail sales data.US retail sales has declined 1.2% in Dec biggest drop since Sep 2009. Bears are in full control and a dip till 1.1255. The pair hits intraday low of 1.12643 and is currently trading around 1.12674.

 

Markets eye US consumer confidence data for further direction.On the lower side, near term support is around 1.12480 low made Feb 13th and any violation below targets 1.12155/1.1200.

 

The near term major resistance is around 1.1300 and any violation above will take the pair till next level 1.13414 high made on Feb 12th/1.13830/1.1435.  

 

It is good to sell on rallies around 1.1300 with SL around 1.13420 for the TP of 1.12155.

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