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- Cable has recovered sharply after hitting low of 1.28118 level on Jul 12th 2017. The pair has taken support near daily Kijun-Sen and jumped from that level.
- The pair broken minor resistance of 1.2925 and jumped till 1.30115. U.S CPI data came at 0.1% slightly less than forecast .
- It has formed minor resistance around at 1.3030 in the previous week and any break above targets 1.3050. Any bullish continuation can be seen only above 1.31000.
- On the lower side, near term support is around 1.2918 (daily Tenkan-Sen) and any break above 1.2870 (21- EMA)/1.2820 (55- EMA).It should break below daily Kijun-Sen at 1.2810 for further bearishness.
It is good to buy on dips 1.2935-40 with SL around 1.2870 for the TP of 1.3000/1.3030
Resistance
R1-1.3030
R2 -1.3050
R3- 1.3100
Support
S1-1.2918
S2-1.2870
S3-1.2810
