- Major resistance- 0.7600 (Apr 21st high).
- Major support – 0.7520 (23.6% retracement of 0.7280 and 0.75988).
- The pair is facing strong resistance at 0.7600 and any break above 0.76000 confirms major trend reversal. It is currently trading around 0.75960.
- On the higher side, any violation above 0.76000 will take the pair to next immediate resistance 0.7680/0.7745 (Mar 13th 2016 high)/0.777 (161.8% retracement of 0.7570 and 0.72470).
- The immediate support is at 0.7520 and any break below will drag the pair down till 0.7484 (9- day EMA)/0.7441 (21-day MA).
It is good to buy above 0.7600 with SL around 0.7520 for the TP of 0.7750/0.7770.
Resistance
R1-0.7600
R2-0.7680
R3-0.7745
Support
S1-0.7520
S2-0.74840
S3-0.7441
