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- The short term picture depicts more bullish trend for this pair, as the pair is supported by rising trend line in daily chart, the relative index in the 4 hour chart is pointing upwards, the 55, 30 and 20 MA's is indicating upward momentum. Overall the technical indicators are depicting more upside for this pair.
- To the upside, the strong resistance can be seen at 1.0120, a break above this level would take the pair towards next resistance level at 1.0146.
- To the downside immediate support can be seen 1.0057, a break below this level will take the pair to next level at 0.9990.
Recommendation: Go long above 1.0050, targets 1.0140, 1.0200, SL 0.9956
Support levels: 1.0057, 0.9990, 0.9956
Resistance levels: 1.0120, 1.0146, 1.0201
