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- Major resistance- 1.1350 (61.8% retracement of 1.1616 and 1.09115).
- Major support - 1.1225 (100 day MA).
- The pair has declined sharply after jumping till 1.13225 yesterday. It is currently trading around 1.12630.
- Short term trend is slightly weak as long as resistance 1.1350 holds.
- On the higher side, any break above 1.1350 will take the pair to next level till 1.1400/1.14300.
- It should close above 1.14300 for further bullishness.
- Technically major support is at 1.12250 and any break below targets 1.1150/1.1085 (200 day MA).
It is good to sell on rallies around 1.1280-285 with SL around 1.1350 for the TP of 1.1155.
