The currency pair showed a minor pullback ahead of US Fed monetary policy. It hit an intraday high of 0.88083 and is currently trading around 0.87968. The intraday bias appears to be bearish as long as the resistance 0.9000 holds.
Technical Analysis and Resistance Levels
The pair is trading below the 34-EMA and 55-EMA on the 4-hour chart indicating a bearish trend. The immediate resistance is at 0.8865 any break above targets 0.8890/0.8940/0.9000/0.9035/0.9070/0.9100/0.9150/0.9200/0.92250/0.9275/0.9300.
Support Levels and Potential Declines
On the downside, near-term support is around 0.8750, any violation below will drag the pair to 0.8720/0.8660/0.8600.
Bullish Indicators
CCI (50) - Bearish
Directional movement Index - Neutral
Trading Strategy Recommendation
It is good to sell on rallies around 0.8850-525 with a stop-loss at 0.8890 for a TP of 0.8720.


FxWirePro:USD/JPY neutral in the near-term, scope for downward resumption
FxWirePro: GBP/NZD remains bullish as rally continues
BTC/USD Coils Ahead of CPI & BOJ: Buy Dips at $85K Targeting $100K Breakout
FxWirePro- Major Crypto levels and bias summary
USD Loses Shine: Soft Labor Market and Stalling Consumer Spending Drag USDCHF Lower
FxWirePro: GBP/AUD maintains bullish bias with focus on 2.0300 level
FxWirePro: EUR/NZD steadies ahead of ECB meeting
EUR/JPY Bearish Outlook Persists: Ifo Weakness Caps Upside, Sell Rallies Targeting 180 Below 183 Resistance
FxWirePro-Major European Indices
FxWirePro: NZD/USD sidelined ahead Of key New Zealand GDP and US inflation update
AUDJPY: Bearish Setup Intact — Sell Rallies Near 103.30 Targeting 100
ETH/USD Clings Below $3000 in BTC's Shadow: Buy Deep Dips at $2700 Targeting $4000 Breakout
FxWirePro: USD/ZAR bears maintain upper hand
FxWirePro: GBP/USD recovers slightly from early decline ahead of Bank of England’s interest rate decision
FxWirePro: EUR/AUD uptrend loses steam, remains on bullish path
FxWirePro- Major Crypto levels and bias summary 



