Resistance – 1.1196, 1.1236, 1.1275
Support – 1.1125, 1.1102, 1.1060
Support – 1.1125, 1.1102, 1.1060
- Pair’s sharp retreat yesterday put an end to a three-day long consolidation seen between two key Fibos – 1.1236 & 1.1196 levels.
- The bearish break indicates the pair is likely to test the rising trend line support at 1.1125 levels, under which daily 200-MA at 1.1102 could be put to test.
- Traders should watch out for a rebound from 1.1102 followed by a rebound above 1.1125 could signal short-term reversal in the pair.
