The pair made a double top at 1.11 (rounded). The pair has support between 1.1030-1.1026 61.8 fib level, below these, it has support at 1.1 and 1.0950 50.0 fib level. For the short term, it has support at 1.0862 and 1.0834 levels. Until the pair closes above 1.0834, use every dip to buy. In the near term the pair has support at 1.0934, the bulls need to worry only close below this. We recommend a fresh buy above 1.11 for an upside target at 1.1150, 1.20 and 1.1225 levels. The pair has a long list of supports to save the bulls.
Support 1.1026 1.0950 1.0834
Resistance 1.11 1.1150 1.1225
For an intraday basis, the pair is trading at 1.1053 level in the Pacific session. The pair has support at 1.1036 levels. The prices closed below 35DEMA and 12EMA, representing some weakness on an hourly basis. We recommend selling only below 1.1036 for a downside target at 1.30, 1.1020, 1.1, 1.0988 and 1.0950. Safe traders can sell below 1.0930.
The material has been provided by InstaForex Company - www.instaforex.com
