Pair is currently trading around 4.0840. It made intraday high at 4.0933 and low at 4.0688 levels. Intraday bias remains bearish till the time pair holds key resistance at 4.1235. A sustained break above key resistance w…
It made intraday high at 4.0933 and low at 4.0688 levels.
Intraday bias remains bearish till the time pair holds key resistance at 4.1235.
A sustained break above key resistance will drag the parity towards 4.1501/4.1786 marks.
Alternatively, a sustained break below key support will drag the parity down around 4.0086 (August 2016 low) levels.
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.
