The pair held the support at 50Wsma on the previous week and closed above the breakout level. On a closing basis, until the pair closes above the 1.0794, buying on dips will mint the money. The short- and medium-term strong key support existed at 1.0794. On the short-term basis, the pair has been trading above 50Dsma and 200Dema. In yesterday's session, the pair broke out and closed below the 20Dsma and 200Dsma. In today's session, the pair opened at a low, resulting in minor bullish move. The pair is facing resistance at 1.0895. The pair looks strong, buy above this for the 1.0916 level on positional basis. On the down side, it has support at 1.0858 below this, 1.0824 and 1.080-1.0794 on positional basis.
Support is at 1.0858, 1.0824, and 1.0794.
Resistance is at 1.0895, 1.0917, and 1.0956.
Intraday cmp 1.0889.
For an intraday session, the pair is facing strong resistance at 1.0893 (21hesma). We strongly recommend buying only above this level. On the downside, it has support at the 1.08795 and 1.0871 levels.
Buy above 1.0893.
The material has been provided by InstaForex Company - www.instaforex.com
