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Intraday trend – Neutral
Major intraday resistance – 1.12725
The pair has shown a minor pullback after upbeat German PMI data. It came at 57.6 for November compared to a forecast of 57. It hits an intraday high of 1.12696 and is currently trading around 1.12653. Any breach above 1.12725 confirms further bullishness. A jump till 1.1300/1.13625/1.1400 is possible.
The minor support to be watched is 1.1240, any violation below will drag the pair down till 1.12250/1.11990 (161.8% fib)/1.11680.
Indicators (15 Min)
Directional movement index – Bullish
CCI (50)- Bullish
It is good to buy above 1.12725 with SL around 1.12390 for a TP of 1.1340/1.13625.
