- Major resistance- 0.9680 (trend line joining 0.97028 and 0.96946)
- Major support: 0.9630 (Jul 29th low)
- The pair has formed almost a double bottom around 0.9630 and slightly jumped from that level.It is currently trading around 0.96813.
- On the higher side, any break above 0.9680 will take the pair to next level till 0.9745/0.9790 in the short term. The pair should close above 0.9860 (200 day MA) for further bullishness.
- Technically the low made on Jul 29th is acting as major support and slight weakness can be seen only below that level.
- Any break below 0.9630 will drag the pair down till 0.9580/0.9525.Further weakness can be seen only below 0.9500.
It is good to buy on dips around 0.9670 with SL around 0.9630 for the TP of 0.9745/0.9790.
R1- 0.9680
R2-0.9745
R3-0.9790
Support
S1-0.9630
S2-0.9580
S3-0.9525
