EURO faces resistance around 200 day MA, good to sell on rallies

EUR/USD has broken major resistance 1.100 and jumped till 1.10423 . It is currently trading around 1.10098. Overall trend is still weak as long as resistance 1.10900 holds.

The pair has broken major resistance 1.1030 (200 day MA) and slightly declined from that level. It should close above 1.1030 for further bullishness.

On the lower side major support is around 0.9960 and break below targets 0.9928/0.9900 level.

Any break above 1.1030 will take the pair to next level 1.1070/1.1090 level.

It is good to sell on rallies around 1.1030 with SL around 1.1090 for the TP of 0.9960/0.9900