Major resistance- 1.12630 (50% retracement of 1.16163 and 1.09115)
Major support – 1.1200 (100- day MA)
EUR/USD has slightly retreated after making a high of 1.12650. It is currently trading around 1.12475.
The pair is facing strong resistance around 1.12630 and any further bullishness only above that level. Any break above 1.12630 will take the pair to next level till 1.1300/1.13660.
On the lower side, any violation below 1.1200 will drag the pair till 1.11400/1.1120.
Short term weakness only below 1.1045.
It is good to buy above 1.1260 with SL around 1.1200 for the TP of 1.1300/1.13660