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- Major support – 105.12 (trend line joining 103.54 and 104.03)
- Major resistance- 106
- The pair has broken trend line support and declined till 104.80 at the time of writing. It is currently trading around 104.91.
- The decline from 111.43 till 101.73 would come to end if the pair breaks above 106. Any break above 106 will take the pair till 106.80/107.82.
- On the lower side, any violation below 105.12 will drag the pair further down till 104/103.54.
- In the hourly chart, the pair is trading well below Tenkan-Sen (105.22) and Kijun-Sen (105.30). So decline till 103.50/101.75 (Brexit low) for the intraday is possible.
It is good to sell on rallies around 105.10-105.20 with SL around 106 for the TP of 103.55/101.75
