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- Major support -1.1050 (200 day MA and also 1.13% retracement of 1.10865 and 1.13350)
- Major resistance - 1.11500
- The pair has retreated after making a high of 1.11372 yesterday. It is currently trading around 1.10665.
- On the higher side major resistance is around 1.1150 and break above targets 1.1200/1.12450.
- Any break below 1.1050 confirms minor trend reversal, a decline till 1.100/1.0920 is possible.
- Short term bearish invalidation only above 1.1380.
It is good to sell below 1.1050 with SL around 1.1100 for the TP of 1/1.0920.
