Intraday bias remains neutral as long as resistance 0.8540 holds. It hit a high of 0.84981 and is currently trading around 0.84765.
Technicals-
The pair is trading above 34 and below 55 EMA in the 4-hour chart.
The near-term resistance is around 0.8500, a breach above the target of 0.8540. The bearish pattern from 0.92244 will be completed at 0.8375 if pair breaks above 0.8540. A jump to 0.86000/0.8680. The immediate support is at 0.84500, any violation below will drag the pair to 0.8430/0.8400/0.8365 (61.% fib projection)/0.8340.
Indicator (4-hour chart)
CCI (14)- Bullish
CCI (50)- neutral
Average directional movement Index - neutral . Overall trend is mixed
It is good to sell on rallies around 0.84725-50 with SL around 0.8505 for a TP of 0.8405.
