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- Major resistance- 1.08200
- The pair jumped sharply till 1.07961 after making a low of 1.05047 yesterday. It is currently trading around 1.07498.
- It should break above 1.08200 for further bullishness. Any break above 1.08200 will take the pair to next level till 1.0875/1.0900/1.1000. The pair should close above 1.1000 for further bullishness.
- On the lower side, minor support is around 1.06800 and any break below will drag the pair down till 1.06130 (61.8% retracement of 1.05047 and 1.07960)/1.0550/1.0500. Any close below 1.0500 confirms further weakness.
It is good to sell on rallies around 1.0760-1.0765 with SL around 1.0825 for the TP of 1.0600/1.0550.
Resistance
R1-1.08200
R2-1.0900
R3- 1.1000
Support
S1-1.06800
S2-1.06130
S3- 1.0550
