Techs favour upside, momentum studies are , we see scope for further gains.
Pair has bounced off lower (July 21) and has held major support at 0.6956 (July 25).
50-DMA resistance has been breached (July 27), pair now finds next major hurdle at 20-DMA by 0.7137.
We see weakness only below 0.7029 (50-DMA), violation there could take the pair to at 0.6950.
On the upside break above 20-DMA at 0.7137 opens upside upto 0.73 levels.
Good to go long on dips around 0.71 levels, SL: 0.7030, TP: 0.7135/ 0.7155/ 0.72
Momentum still bullish.
We see scope for 0.73 levels.
Weakness only below 0.7136