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- Major support – 1.3087 (10-day MA).
- Major resistance- 1.3270.
- The pair has taken support near 5 –day MA (1.31650) and slightly jumped from that level. It is currently trading around 1.31985.
- Further, a decline in the cable can be seen only below 1.3085 (10-day MA).On the higher side, major resistance is at 1.3275 the temporary top formed on Aug 24th 2016 high and any break above targets 1.3310/1.3387 (55- day EMA).
- Short term weakness only below 1.3000.
It is good to buy on dips around 1.3170 with SL around 1.3100 for the TP of 1.3310/1.3380
Resistance
R1- 1.3275
R2-1.3310
R3-1.3380
Support
S1-1.3165
S2-1.3085
S3-1.3000
