The pair has broken below 21-EMA and 5-DMA supports and we see scope for further downside.
Technical indicators on are . Stochs have rolled over from overbought levels.
shows weakness below 50 levels and is sharply lower. We see -ve DMI dominance which adds to the bias.
Downside targets lower at 5080. Break below will see next major support at 4940 ( ).
On the flipside, breakout at 21-EMA and then channel top will negate bias.
Support levels - 5212 ( Apr 1 low), 5080 (lower BB), 4970 (June 29 low), 4940 ( )
Resistance levels - 5506 (5-DMA), 5558 (21-EMA), 5625 (channel top), 5833 (50-DMA)
Good to go short on upticks, SL: 5510, TP: 5220/ 4970/ 4950