Major resistance – 1.00377 (61.8% retracement of 1.0170 and 0.98136). The pair broken major resistance of 1.00375 and jumped till 1.00767 yesterday. It is currently trading around 1.0044. The pair has closed well above m…
Major resistance – 1.00377 (61.8% retracement of 1.0170 and 0.98136).
The pair broken major resistance of 1.00375 and jumped till 1.00767 yesterday. It is currently trading around 1.0044.
The pair has closed well above major resistance of 55- day EMA and any close above indicate that decline from 1.03435 got completed at 0.98136.The pair should break above 1.0170 for further bullish confirmation. The near term resistance are at 1.00783 (61.8% retracement of 1.03435 and 0.98136)/1.00950 (trend line joining 1.033 and 1.01700).
On the lower side, near term support is around 1.000 (21- day EMA) and any violation below will take the pair till 0.9960/0.9929 (200- day MA) /0.98600/0.98100.
It is good to buy on dips around 1.0020 with SL around 0.9980 for the TP of 1.00780/1.00935
