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The pair has slipped from daily highs from 1.1090 levels to testing support level at 1.1030,the pair is expected to, rebound around 1.1010 levels and advance further towards 1.1050 and 1.1080 levels in the short term.
To the upside, the strong resistance can be seen at 1.1070 (32.8% Retracement level), a break above this level would take the pair towards next resistance level at 1.1100 handle.
To the downside immediate support can be seen at 1.1030 (50% Retracement level), a break below this level will open the door towards next level at 1.0984 (61.8% Retracement level).
Recommendation: Go long above 1.1010, targets 1.1050, 1. 1080, SL 1.0940
Resistance Levels
R1: 1.1070 (32.8% Retracement level)
R2: 1.1125(23.6% Retracement level)
R3: 1.1190 (Aug 14 th high)
Support Levels
S1: 1.1030 (50% Retracement level)
S2: 1.0984 (61.8% Retracement level)
S3: 1.0959 (Aug 11th lows)
