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- The pair has slightly declined after hitting high of 1.11800. The pair formed a minor bottom around 1.1190 and is currently trading around 1.11637.
- Intraday major resistance is around 1.11800 (89 EMA) in the 4 hour chart and any break above will take the pair till 1.12075 (100 MA)/1.1230/1.12950. The pair should break above 1.1300 for further jump till 1.1360/1.14350.
- On the lower side, any break below 1.1100 confirms minor weakness, a decline till 1.1050/1.1000 likely. US jobless claim rose by 3k to 241000 vs estimate of 24000.
It is good to buy on dips around 1.1160-65 with SL around 1.1120 for the TP of 1.1230/1.1275.
