The pair has been facing strong resistance at the 174.23 level. Yesterday, it breached that level, but was unable to close above that. Now, the pair is currently unable to breach the previous day’s high. We recommend buying above 174.25 with an immediate target at 174.50-174.55. The weekly support existed at 172.66.
For an intraday basis, the prices are closed above the hourly key moving averages. We recommend buying above 174.25 with an hourly target at 174.55. On the down side, it has support at 173.27 and 172.87. The selling will be possible below 172.87 towards the 172.32 and 171.89 levels.
The material has been provided by InstaForex Company - www.instaforex.com
