The pair has been struggling at 20DSma for 4 days. The pair is making lower lows and lower highs for 4 days. Today in Asia's session, the pair is struggling at 20Dsma. In the weekly chart, the pair was rejected thrice at the broken support trend line.
Weekly basis - Until the pair closes below the 137.20 level, selling on the rise will mint money. - Active.
Monthly basis - Until the pair closes below the 138.70 level, selling on the rise will mint money. - Active.
On the down side, it has parallel support at the 137 level. Below this, 136.75-136.60 will be used as weekly support level.
Until the pair closes below 138.70, on the down side 134.50-134 will act as an open target in the near term.
On an intraday basis, the prices are closed below and trading below 12ema, negative for hourly and intraday trading. But in the h4 candle, the pair makes a minor support at 137.06 and 136.91. We can see a pull back only above 137.17 towards 137.35. If the pair manages to trade above 137.41, it can fly up to the 137.64 level.
Resistance is at 137.17, 137.41, and 137.64.
The material has been provided by InstaForex Company - www.instaforex.com
