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- Pattern Formed- Head and shoulder
- Major support: 1.6180
- The pair has broken major support 1.6180 and declined till 1.6170. Short term trend is still weak as long as resistance 1.6260 holds.
- Any break above 1.6260 will take the pair to next target 1.6310/1.6355.
- On the lower side any break below 1.6180 will drag the pair down till 1.6000/1.5890.
It is good to sell on rallies around 1.6195-1.6200 with SL around 1.6260 for the TP of 1.6000/1.5890
