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- Major resistance -1.3235 (trend line joining 1.3858 and 1.3405)
- Major support - 1.3140 (resistance turned in to support)
- Lonnie has broken minor resistance 1.3140 yesterday and jumped till 1.3219. The pair has moved higher after higher than expected crude oil inventory report.
- US crude oil prices declined more than 4% after crude oil inventories soared by 9357 barrels.
- On the higher side any break above 1.3240 confirms minor trend reversal , jump till 1.3300/1.3348/1.3405 is possible .
- Short term bearish invalidation can happen only above 1.4050.
- The pair’s minor support is around 1.3180 and break below targets 1.3140/1.3090/1.3050 level.
It is good to buy at dips around 1.3200-1.3205 with SL around 1.3140 for the TP of 1.3345/1.3400
