Major support – 1.10600 (trend line joining 1.09115 and 1.09519).
Major resistance- 1.1160 (200- day MA).
The pair has broken major support 1.1120 and declined till 1.11042 from that level. It is currently trading around 1.11273.
On the lower side, 1.10600 will be acting as major support and any break below confirms major weakness, a decline till 1.1000/1.0950/1.09100.
The major resistance is around 1.1160 and any violation above will take the pair to next immediate resistance at 1.1180 (100- day MA) /1.12440 (61.8% retracement of 1.12793. and 1.1104)/1.1280.
It is good to buy on dips around 1.1100 with SL around 1.1050 for the TP Of 1.1180/1.1245.
Major resistance- 1.1160 (200- day MA).
The pair has broken major support 1.1120 and declined till 1.11042 from that level. It is currently trading around 1.11273.
On the lower side, 1.10600 will be acting as major support and any break below confirms major weakness, a decline till 1.1000/1.0950/1.09100.
The major resistance is around 1.1160 and any violation above will take the pair to next immediate resistance at 1.1180 (100- day MA) /1.12440 (61.8% retracement of 1.12793. and 1.1104)/1.1280.
It is good to buy on dips around 1.1100 with SL around 1.1050 for the TP Of 1.1180/1.1245.