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- Major support – 1.10525 (trend line joining 1.1002 and 1.10156)
- Major Resistance- 1.11260 (Jul 12th 2016 high).
- The pair has made a high of 1.11260 yesterday and declined till 1.10420 at the time of writing. It is currently trading around 1.10626.
- Minor trend is weak as long as resistance 1.1130 holds. Any indicative break above 1.1130 will take the pair to next level till 1.1188/1.1235 in the short term.
- Short term trend reversal only above 1.11880.
- On the lower side, any break below 1.10500 will drag the pair down till 1.100/1.0970/1.0910.
It is good to sell on rallies around 1.10580-1.1062 with SL around 1.1130 for the TP of 1.100/1.0970/1.0910.
