EUR/USD trades below 1.0600, decline below 1.0500 is possible
EUR/USD has minor support 1.0600 and declined till 1.05770. Short term trend is weak as long as resistance 1.0640 (34 4H EMA) holds.
On the higher side minor resistance is around 1.0606 and 1.0626.
The pair’s major support is around 1.0560 and break below targets 1.05000.
Overall bearish invalidation only above 1.06850 (trend line resistance joining 1.0829 and 1.07629).
It is good to sell on rallies around 1.05820-850 with SL around 1.06380 for the 1.0500/1.0460
On the higher side minor resistance is around 1.0606 and 1.0626.
The pair’s major support is around 1.0560 and break below targets 1.05000.
Overall bearish invalidation only above 1.06850 (trend line resistance joining 1.0829 and 1.07629).
It is good to sell on rallies around 1.05820-850 with SL around 1.06380 for the 1.0500/1.0460