Intraday bias remains neutral as long as resistance 0.8540 holds. It hit a high of 0.84946 and is currently trading around 0.84930.
Technicals-
The pair is trading above 34 and below 55 EMA in the 4-hour chart.
The near-term resistance is around 0.8540, a breach above targets 0.8590/0.8635.The bearish pattern from 0.92244 will get completed at 0.8375 if pair breaks above 0.8540. The immediate support is at 0.8480, any violation below will drag the pair to 0.8420/0.8400/0.8365 (61.% fib projection)/0.8340.
Indicator (4-hour chart)
CCI (14)- Bullish
CCI (50)- Bullish
Average directional movement Index - neutral .Overall trend is mixed
It is good to sell on rallies around 0.8500 with SL around 0.8540 for a TP of 0.8405.
