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- Pattern Formed –Double Top
- Major resistance- 86.10 (Weekly Kijun-Sen)
- Major support – 84.50 (55 day 4H EMA)
- The pair has once again retreated after making a high of 85.68. It is currently trading around 85.32.
- Potential upside is limited by Weekly Kijun-Sen around 86.10 level. Any further bullishness can be seen only above 86.10 level. Any break above 86.10 will take the pair to next level 86.61/87.17.
- On the lower side major support is around 84.65 (55 day 4H EMA) and break below targets 84/83.70/83.25.
- Overall bearish invalidation only above 87.20 level.
It is good to sell on rallies around 85.35-40 with SL around 86.10 for the TP of 84.65/84/83.70
R1-85.75
R2-86.10
R3-86.61
Support
S1-84.65
S2-84
S3-83.70
