Forex Technical Analysis: Trend potential – Sell Usd towards 108.670


Sell Usd towards 108.670

Technical Observation:

A key daily support is seen around 108.670. I expect a surge towards this support to pick a long position on a bounce from this line, but should the price break below it, then I expect a surge to the lower side with the next take profit at 106.995. Should the price bounce from 108.670, then this will be a good buy place with a take profit at 111.326. Upwards, the key lines to look for include 109.541 and 110.565.

Technical Levels

Resistance levels

R1: 110.65

R2: 111.32
R3: 112.53
Support Levels
S1: 107.68
S2: 108.88
S3: 109.44
Trade Signal
Sell Usd towards 108.670

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