- Major resistance – 1.4670 (Feb 4th high 2016)
- Major support – 1.4450 (resistance turned into support)
- Cable has broken major resistance 1.4670 and jumped till 1.47403 at the time of writing. It is currently trading at 1.4733.
- Short term trend is bullish as long as support 1.4650 (1 hour Kijun-Sen) holds. On the higher side major resistance is around 1.4750(161.8% retracement of 1.46388 and 1.44729) and break above targets 1.4800/1.4870 levels.
- On the lower side major support is around 1.4650 and break below targets 1.4600/1.4570 level.
It is good to buy at dips around 1.4720-25 with SL around 1.4650 for the TP of 1.4800/1.4870.
The material has been provided by InstaForex Company – www.instaforex.com