Potential reversal Zone (PRZ) - 1.11570.
The pair has retreated sharply after making a high of 1.12270 yesterday. It is currently trading around 1.11740.
The pair breaks below 100- day MA at 1.11830 and declined slightly till 1.11680 at the time of writing. Any break below 1.1150 confirms further bearishness.
The pair is facing strong resistance around 1.1280 ( joining 1.16163 and 1.13660)and any slight bullishness can be seen only above that level.
The minor resistance is around 1.1210 (21- day MA)/1.1250.
Short term weakness below 1.1120 level.
On the lower side, major support is around 1.1150 (200- day MA) and any break below targets 1.1120/1.1045.
It is good to buy on dips around 1.1160 with SL around 1.1120 for the TP of 1.1245/1.1275.