- The pair is currently trading around 0.9765 levels. It is expected to, advance further towards 0.9800 and later 0.9850 levels in the short term.
- Major resistance is located 0.9815 (32.8% Retracement level), a break above at this level will open the door to 0.9845 levels. To the downside, strong support can be seen 0.9705, a break below will open the gates towards 0.9650 levels.
Recommendation: We prefer long above 0.9740 with targets 0.9790 & 0.9830, SL 0.9650
R1: 0.9788 (Aug 4th high)
R2: 0.9815 (32.8% Retracement level)
R3: 0.9846 (23.6% Retracement level)
S1: 0.9760 (61.8% Retracement level)
S2: 0.9730 (Aug 13th high)
S3:0.9705 (Aug 12th lows)
The material has been provided by InstaForex Company – www.instaforex.com