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- Major Support – 1.11380 (50- day MA).
- Major intraday resistance – 1.11660 (trend line joining 1.12077 and 1.11922).
- The pair has been recovered slightly after breaking the 50- day MA yesterday. It has jumped till 1.11620 at the time of writing.
- The minor intraday resistance is around 1.11660 and any break above will take the pair till 1.1177 (55- H EMA)/1.1215 (100-day MA).The pair should close above 100-day MA for the further jump.
- On the lower side, any break below 50- day MA will drag the pair down till 1.11130 (200- day MA)/1.10450 (May 8th 2016 low).
It is good to buy above 1.11660 with SL around 1.11320 for the TP of 1.12000/1.12150.
