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- Major resistance – 1.1320
- Major intraday resistance – 1.12650 (200 day 4H MA)
- The pair has slightly recovered after making a low of 1.12150 on Friday .it is currently trading around 1.12480.
- Short term trend is slightly bearish as long as resistance 1.1320 holds.
- On the higher side major intraday resistance is around 1.12650 and break above targets 1.1320/1.1380/1.1400.
The pair should close above 1.1400 for further bullishness.
- The support is at 1.1200 and nay violation below that level targets 1.11500/1.10500 level.
It is good to sell on rallies around 1.1250-55 with SL around 1.1320 for the TP of 1.1150/1.1050
R1-1.12650
R2-1.1320
R3-1.1380
Support
S1-1.1200
S2-1.1150
S3-1.1050
