The pair has been consolidating between 137.98 100Dsma and 136.55. For last 3 consecutive days, the pair has been taking support at 136.65 levels. The pair closed and is trading below 50Wsma and 20Wsma, it represents sell on every up move in the near term and short term. This week, as of now the pair has rejected at 20Wsma 137.93. We recommend fresh selling below 136.55 target 135.80 and 135.45 levels. The pair has monthly support at 135.42 20Msma. Should it break below 20Msma, we can expect free fall up to 134.50 and 134.00 levels. For an intraday view, the pair is seen to get some strength only above 137.30. We recommend buying only above 137.30 until sellers take profits.
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