• Major support – 1.03500
   
• Major resistance – 1.06750 (median line channel)
   
• The pair has broken major intraday support at 1.04300and declined till 1.03961 level. It  is currently trading around 1.0420.
   
• Short term trend is still weak as long as major intraday resistance 1.05000 holds.
   
• On the higher side, next immediate resistance stands at 1.04650 (200- HMA) and any break above will take the pair till 1.0500/1.05900 level.


• The major support is around 1.03500 and any violation below 1.03500 will drag the pair down till 1.02615/ 1.0150 (161.8% retracement of 1.03522 and 1.06530).
  
  It is good to sell on rallies around 1.0405-1.04080 with SL around 1.0465 for the TP of 1.03500/1.0260