- 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
R1: 0.7078 (50% Retracement level)
R2: 0.7120 (61.8% Retracement level)
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