• To the upside, the strong resistance can be seen at 0.7120 (61.8% Retracement level), a break above this level would take the pair towards next resistance level at 0.7154.
  • To the downside immediate support can be seen at 0.7037 (38.2% Retracement level), a break below this level will open the door towards next level at 0.7015 (Sep 9th   lows)

Recommendation: Go short below 0.7080, targets 0.7000, 0.7685, SL 0.7180

Resistance Levels

R1: 0.7078 (50% Retracement level)                        

R2: 0.7120 (61.8% Retracement level)

R3: 0.7154 (Sep 1st)

Support Levels

S1: 0.7037 (38.2% Retracement level)

S2: 0.7015 (Sep 9th   lows)

S3: 0.6997 (23.6% Retracement level)

The material has been provided by InstaForex Company – www.instaforex.com