The pair took the 20Dsma support. In the week ending November 29, the flash figure for seasonally adjusted initial claims was 297,000, a decrease of 17,000 from the previous week's revised level. Today, the pair is managing to trade in the green. As of now, today it is unable to break the previous high at 1.1397. The pair has resistance at 1.1425 on a daily closing basis. In case if the pair closes above 1.1386 on a weekly basis, it can challenge 260 odd pips on the higher side. On the down side, the pair has a strong support zone between 1.1120 and 1.1100 on a weekly basis. The pair has weekly support at 1.1314, 1.1295, and 1.1250. The swing support exists at 1.1190 levels. Until it closes above 1.1190, the bullish view is still valid. As of now, this week the pair made a high at 1.1459 but it was unable to break 1.1467. In case the pair closes above 1.1467 on a weekly closing basis, it challenges 275 pips in the short term. On the h4 chart, oscillators are giving a buying signal. The pair favours buying on every dip with higher targets. We can see momentum above 1.1400, it can challenge 1.1415, 1.1425, and 1.1445.
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