Post Paris-terror attacks saw the common currency hit three-month low of 0.70227 pence against the Pound Sterling.
- The pair was rejected at lows, has edged above the trend-line support at 0.7040 and is currently trading at 0.7054
- Daily Stochs are at oversold levels, waiting for some unwinding to happen. Close above 0.7040 confirms bullish bias
- Immediate resistance is located at 0.7074 (5 DMA), while support on the downside is seen at 0.7031 (Aug 19 lows)
Recommendation: Good to buy on dips around 0.7040/50, SL: 0.6980, TP1: 0.7100, TP2: 0.7145
Bullish invalidation on breaks below 0.6925.
