Major resistance – 1.1320
Major intraday resistance – 1.12650 (200 day 4H MA)
The pair has slightly recovered after making a low of 1.12150 on Friday .it is currently trading around 1.12480.
Short term trend is slightly bearish as long as resistance 1.1320 holds.
On the higher side major intraday resistance is around 1.12650 and break above targets 1.1320/1.1380/1.1400. The pair should close above 1.1400 for further bullishness.
The support is at 1.1200 and nay violation below that level targets 1.11500/1.10500 level.
It is good to sell on rallies around 1.1250-55 with SL around 1.1320 for the TP of 1.1150/1.1050
Major intraday resistance – 1.12650 (200 day 4H MA)
The pair has slightly recovered after making a low of 1.12150 on Friday .it is currently trading around 1.12480.
Short term trend is slightly bearish as long as resistance 1.1320 holds.
On the higher side major intraday resistance is around 1.12650 and break above targets 1.1320/1.1380/1.1400. The pair should close above 1.1400 for further bullishness.
The support is at 1.1200 and nay violation below that level targets 1.11500/1.10500 level.
It is good to sell on rallies around 1.1250-55 with SL around 1.1320 for the TP of 1.1150/1.1050