- Major support – 1.0900 (161.8% retracement of 1.14155 and 1.0971).
- Major resistance – 1.1102 (200 day MA)
- The pair has broken minor resistance 1.1000 after making a low of 1.09841 at the time of writing.
- It is currently trading around 1.10353. Short term trend is slightly bullish as long as support 1.09000 holds.
- Any break above 1.1050 (hourly Tenken-Sen) will take the pair to next level till 1.1102 (200 day MA)/1.1188 (high made after Brexit)/1.1235 (61.8% retracement of 1.14278 and 1.109119).
- On the lower side any break below 1.09840 (today’s low) will drag the pair down till 1.0900 (161.8% retracement of 1.14155 and 1.0971/1.0834 (61.8% retracement of 1.10852 and 1.09119).
It is good to buy above 1.1050 with SL around 1.0984 for the TP of 1.1102/1.188/1.1230.
The material has been provided by InstaForex Company – www.instaforex.com