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- Major resistance- 0.7160 (trend line joining 0.7255 and 0.7208)
- Major support - 0.7030 (May 16th low)
- The pair has taken support near 0.7035 and recovered from that level. It is currently trading around 0.71110.
- Short term trend is slightly weak as long as resistance 0.7165 holds.
- On the lower side, any break below 0.7080 will drag the pair down till 0.7030/0.7000/0.6935 (161.8% retracement of 0.70586 and 0.72559).
- The pair’s minor resistance is around 0.7160 (trend line joining 0.7255 and 0.7208) and any violation above 0.7160 will take the pair to next level at 0.7185/0.7215.
It is good to sell on rallies around 0.7115 with SL around 0.7165 for the TP of 0.7000/0.6932
