- Pair is currently trading at 2.1732 levels.
- It made intraday high at 2.1808 and low at 2.1635 levels.
- Since the beginning of the year, pair is consolidating in between 2.23 to 2.15 marks.
- Intraday bias remains neutral for the moment.
- While looking at the intraday chart, pair is likely to fall further but downside is limited.
- Key support falls at 2.1476 level and 2.0043 thereafter.
- A daily close below 2.1550 is required to confirm the bearish bias.
- On the top side key resistance level are seen at 2.1997 and 2.2312 marks.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
