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- Major resistance -1.14380
- The pair has made a high of 1.14376 and retreated from that level after better than expected US Non Farm Payroll data. It is currently trading around 1.13862.
- Short term trend is slightly weak as long as resistance 1.14380 holds.
- Market awaits US Non Farm Payroll data which is to be released for further direction.
- US economy has added 215K jobs in Mar compared to forecast of 205K and unemployment rate increased to 5% compared to 4.9% in Feb.
- Any break above 1.14380 will take the pair to next level around 1.1500/1.15486.
- On the lower side major support is around 1.1320 and break below targets 1.1280/1.1200/1.1155.
- Short term trend reversal only below 1.1050.
It is good to sell on rallies around 1.1395-1.1400 with SL around 1.14380 for the TP of 1.1280/1.1200
