- Major resistance – 1.1076 (200 day MA)
- Major support – 1.1060 (21 day MA)
- The pair has broken major resistance 1.1076 and jumped till 1.10951. It is currently trading at 1.10870.
- Short term trend is slightly bullish as long as support 1.1050 holds.
- Any violation below 1.1050 will take the pair to next level till 1.11375 (trend line joining 1.11861 and 1.11648)/1.11860 (Jul 5th 2016 high).
- On the higher side, any break above 1.1076 will take the pair to next level till 1.1137/1.11860. The pair should break above 1.11860 for further bullishness.
It is good to buy on dips around 1.1080 with SL around 1.1050 for the TP of 1.11370/1.11860
