Major support – 1.0900 (161.8% retracement of 1.14155 and 1.0971).
Major resistance – 1.11035 (trend line joining 1.1115 and 1.1103)
The pair has retreated after making a high of 1.11031 at the time of writing. It is currently trading around 1.10747. Short term trend is slightly weak as long as resistance 1.1188 (High made after Brexit) holds.
Any break above 1.11015 will take the pair to next level till 1.1188 (high made after Brexit)/1.1235 (61.8% retracement of 1.14278 and 1.109119).
On the lower side, any break below 1.09700 (Jun 27th low) will drag the pair down till 1.0900 (161.8% retracement of 1.14155 and 1.0971/1.0834 (61.8% retracement of 1.10852 and 1.09119).
It is good to buy above 1.11035 with SL around 1.1050 for the TP of 1.1188/1.1230
Major resistance – 1.11035 (trend line joining 1.1115 and 1.1103)
The pair has retreated after making a high of 1.11031 at the time of writing. It is currently trading around 1.10747. Short term trend is slightly weak as long as resistance 1.1188 (High made after Brexit) holds.
Any break above 1.11015 will take the pair to next level till 1.1188 (high made after Brexit)/1.1235 (61.8% retracement of 1.14278 and 1.109119).
On the lower side, any break below 1.09700 (Jun 27th low) will drag the pair down till 1.0900 (161.8% retracement of 1.14155 and 1.0971/1.0834 (61.8% retracement of 1.10852 and 1.09119).
It is good to buy above 1.11035 with SL around 1.1050 for the TP of 1.1188/1.1230