FxWirePro: EURUSD faces strong support at 10-day MA, good to sell on rallies
Ichimoku Analysis ( Daily chart)
EURUSD took support near 10- day MA and shown a nice recovery. Markets eye US government relief package for further direction. The talks between US Republicans and Democrats on the next relief package got stuck with no progress. The unemployment benefits of $600 per week got expired the previous Friday. It hits an intraday high of 1.18062 and is currently trading around 1.17841.
The pair is facing significant resistance at 1.1825, the break above confirms minor bullishness, a jump till 1.18445/1.1900 likely. The near term support is around 1.1690, violation below will take the EURUSD till 1.1625/1.15480.
It is good to sell on rallies around 1.1868-70 with SL around 1.1925 for the TP of 1.1695.