- The pair is trading around 1.0951 levels and it is expected advance towards 1.0980 and 1.1130 levels in the short term.
- To the upside, the strong resistance can be seen at 1.1002(32.8% Retracement level), a break above this level would take the pair towards next resistance level at 1.1045(23.6% Retracement level).
- To the downside immediate support can be seen at 1.0927(61.8% Retracement level), a break below this level will open the door towards next level at 1.0881 (Aug 6th lows).
Recommendation: Go long above 1.0920, targets 1.0980, 1. 1130, SL 1.0850
R1: 1.1045(23.6% Retracement level)
R2: 1.1002(32.8% Retracement level of 10805 to 1.1130 levels)
R3: 1.0985(July 21st high)
S1: 1.0927 (61.8% Retracement level)
S2: 1.0881 (Aug 6th lows)
S3: 1.0846 (Aug 5th lows)
The material has been provided by InstaForex Company – www.instaforex.com