• Chart pattern formed – Head and Shoulder pattern
   
• Major support – 1.064000


• The pair has formed potential Head and Shoulder pattern in the hourly chart. It has declined after showing a mild jump above 1.0700 level. It is currently trading around 1.06400.


• The neckline of Head and shoulder pattern is around 1.06400 and any break below will drag the pair down till 1.05800/1.05000 level.
   
• The major intraday resistance is  at 1.07300 and violation above 1.07300 confirms minor bullishness and jump till 1.0800/1.08735.Short term bearish invalidation only above 1.08735.
  
  It is good to sell on rallies around 1.0640-1.0645 with SL around 1.0680 for the TP of 1.05850/1.0500