Ichimoku analysis (4-Hour chart)
Tenken-Sen- 0.92375
Kijun-Sen- 0.92322
Previous week High– 0.92748
Yesterday's Low- 0.92000
The pair has halted its three weeks of the bullish trend and lost more than 50 pips from minor top 0.92748. The minor sell-off in the US dollar is putting pressure on this pair at higher levels. US dollar index declined slightly after a mixed US Non-farm payroll data. Any breach below 92 confirms intraday bearishness.
Trend- Neutral
The near-term resistance is at 0.92750, breach above will take the pair to 0.9300/0.9360. On the lower side, near-term support is around 0.9200. Any convincing breach below targets 0.9170/0.9140. Significant selling will happen if it breaks 0.8920.
Indicator (4 Hour chart)
CAM indicator –Neutral
Directional movement index –Neutral
It is good to buy on dips around 0.9200 with SL around 0.9140 for a TP of 0.9360.
