The major failed to extend weakness below 61.8% Fib at 0.7327, on and Stochs keeps scope for upside in the pair.
Technical indicators on have turned . Stochs and biased higher. and DMI are showing crossover.
Break above stiff resistance at 21-EMA at 0.7431 now eyes 55-EMA at 0.7510. Break out there could see further upside.
On the flipside, we see weakness to resume on retrace below 5-DMA support at 0.7408.
Support levels - 0.7431 (21-EMA), 0.7408 (5-DMA), 0.7327 (61.8% Fib), 0.73
Resistance levels - 0.7505 (23.6% Fib), 0.7510 (55-EMA), 0.7567 (May 11 high)
Good to go long on dips around 0.7450, SL: 0.74, TP: 0.7510/ 0.7565