Major Support – 1.11380 (50- day MA).
Major intraday resistance – 1.11660 (trend line joining 1.12077 and 1.11922)
The pair has been recovered slightly after breaking the 50- day MA yesterday. It has jumped till 1.11620 at the time of writing.
The minor intraday resistance is around 1.11660 and any break above will take the pair till 1.1177 (55- H EMA)/1.1215 (100-day MA).The pair should close above 100-day MA for the further jump.
On the lower side, any break below 50- day MA will drag the pair down till 1.11130 (200- day MA)/1.10450 (May 8th 2016 low).
It is good to buy above 1.11660 with SL around 1.1320 for the TP of 1.12000/1.12150.
Major intraday resistance – 1.11660 (trend line joining 1.12077 and 1.11922)
The pair has been recovered slightly after breaking the 50- day MA yesterday. It has jumped till 1.11620 at the time of writing.
The minor intraday resistance is around 1.11660 and any break above will take the pair till 1.1177 (55- H EMA)/1.1215 (100-day MA).The pair should close above 100-day MA for the further jump.
On the lower side, any break below 50- day MA will drag the pair down till 1.11130 (200- day MA)/1.10450 (May 8th 2016 low).
It is good to buy above 1.11660 with SL around 1.1320 for the TP of 1.12000/1.12150.