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- Major resistance - 114.20 (55 day 4 H EMA)
- The pair has made a high of 113.89 and started to decline from that level. It is currently trading around 113.12.
- Short term trend is still weak as long as resistance 114.20 holds.
- Any break above 114.20 will take the pair till 115/116.35.
- On the lower side major support is around 112.20 and break below targets 111.80/111.25.
It is good to sell on rallies around 113.50 with SL around 114.20 for the TP of 111.25.
