- Major resistance- 1.0850 (support turned into resistance)
- Major support -1.0700
- The pair jumped sharply from the low of 1.07091 and broken minor pschycological resistance 1.08000. It is currently trading around 1.0800.
- Any slight break above 1.08500 will take the pair till 1.0950 (7- day EMA)/1.0970 (21-day MA).
- On the lower side, minor support 1.0750 and any indicative break below will drag the pair down till 1.0700/1.06400 (161.8% retracement of 1.07091 and 1.08163).
- Overall bearish invalidation only above 1.12990. It is good to sell on rallies around 1.08500 with SL around 1.09500 for the TP of 1.0700/1.0645.
Resistance
R1-1.0850
R2-1.0950
R3-1.1000
Support
S1-1.0750
S2-1.0700
S3- 1.0640
