In yesterday's fall, the pair held the support at the 172.90 level and made a low at 173. Today, the pair opened above yesterday's low. On a closing basis, until the pair closes above 172.90 bulls will try to take the pair towards the 174.23 and 174.40 levels. The descending trend line is currently acting as a support line. The weekly key support existed at the 172.75 level below this, 172.46, 172.32 will be the minor support levels.
Support is at 173, 172.75, and 172.46.
Resistance is at 173.50, 174.01, and 174.23.
For an intraday trading perspective, the prices closed and trading above 12ema and 35DEMA. The RSI in the h4 chart is indicating a sell call. But the prices came out of the 3-day trend setup. The pair has a resistance zone between the 173.30- 173.38 levels. On the down side, it has support at the 173, 172.75 and 172.65 levels. Below 172.65, strong selling will emerge in intraday for 172.30, 172 and 171.69.
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