The pair held the 100DSma in yesterday's session and closed above that. But, today in Asia's session the pair hit the 100DSma and trying its luck at 20DSma at 172, as of now it made a low at the 172.17 level. The pair has strong resistance at the 173 level. In the short term, until the pair closes below 173, selling on an upward move will mint the money. A daily close above 173, it can climb up to 173.30 and 173.50 in the near run, 174-174.25 in the medium run. On the down side, it has support at 172. A daily closure below this could lead to selling up to 171.63 and 171 in the near term.
Support is at 172,171.63, and 171
Resistanceis at 173, 173.50, and 174.25
For an intraday purpose, the prices hit the 12ema and 21hrsma. The pair has support at the 172-171.95 levels. The pair was rejected from the 2-month descending trend line. We recommend a fresh sell below 171.95 with a target at 171.63, panic will trigger below this level.
The material has been provided by InstaForex Company - www.instaforex.com
