Description
⋅ Major resistance – 1.43200 (4H Kijun-Sen line)
Major Support - 1.4250
The cable has made a high of 1.43215 and declined from that level. It is currently trading around 1.4328.
The pair has broken major support and 1.4250 and declined till 1.42250 level. Short term trend is still weak as long as resistance 1.4320 holds.
Any break above 1.4320 will take the pair 1.4380/1.4400. The pair should close above 1.4400 for further bullishness.
On the lower side any break below 1.4250 will drag the pair further down till 1.4170/1.4100.
It is good to sell on rallies around 1.4250-1.4255 with SL around 1.4320 for the TP of 1.4170/1.4100