The pair has retreated sharply from the high of 3.5810 levels (BTCE) and is currently trading around 3.44 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 3.55

Kijun-Sen level: 3.4170

Trend reversal level - (90 day MA) - 3.519

Long- term trend remains to be neutral. In the daily chart, pair is facing strong resistance at 100-day MA and any close above confirms further bullishness.

Major resistance is around 3.710 (100- day MA) and any break above targets break above targets 4/4.15 (Jul 2nd 2016 high). Short-term support is seen at 3.370 (Sep 9th 2016 low) and any violation below targets 3.29 (Aug 28th low)/3.134 (61.8% retracement of 2.90 and 3.5130)/2.90 (Aug 2nd low).