- Major resistance- 0.7220 (90 EMA)
- Major support – 0.7130 (trend line joining 0.7058 and 0.0.7085)
- The pair has broken major support 0.7130 and declined till 0.7124 at the time of writing. It is currently trading around 0.71280.
- Short term trend is slightly weak as long as resistance 0.7225 (90 day MA) holds.
- On the lower side any break below 0.7130 will drag the pair down till 0.7055/0.7000/0.6850.
- The pair’s minor resistance is around 0.7160 and any violation above 0.7160 will take the pair to next level at 0.7185/0.7225.
It is good to sell on rallies around 0.7140-0.7145 with SL around 0.7225 for the TP of 0.7000/0.6900
The material has been provided by InstaForex Company – www.instaforex.com