Intraday trend – Neutral
Significant intraday support – 0.9150
The pair is trading weak for the fifth consecutive day and lost more than 100 pips on board-based US dollar weakness. Markets are trading flat on holiday mood with thin volumes. Significant volumes can be seen only after Jan 1st, 2022. It hits an intraday low of 0.91647 and is currently trading around 0.91741.
Bullish scenario-
The primary levels to Watch – 0.9240. Any convincing surge above confirms intraday bullishness. A jump to 0.9270/0.9300/0.9330/0.9380 is possible.
Bearish scenario-
Intraday support – 0.91570 (Nov low). Break below that level will take the pair to 0.9090/0.9050.
Indicators (4-Hour chart)
Directional movement index – Neutral
CCI (50) - Bearish
It is good to sell on rallies around 0.92000 with SL around 0.9240 for TP of 0.9095.
