In yesteday's session, the pair exactly touched the neck line and got rejection there. In today's session, the pair fell to a 2-day low and testing its luck at 20Dsma at 1.0929. If breaking below 1.0929, the pair will extend its fall to the 1.09, 1.0886, 1.08834, and 1.0864 levels.
A daily close is below 1.0929; the intraweek fall will extend to 1.0886. - Pending.
On the upside, 1.0986 is acting as strong resistance in the near term. A daily close above this will give an upside breakout.
Support is at 1.0886, 1.0883, and 1.0864.
Resistance is at 1.0986, 1.1010, and 1.1053.
For an hourly trading perspective, the prices are closed and trading below the 12ema levels. It leads to the weakness of the pair for an intraday view. The prices hit the previous swing low in the h4 chart. It has resistance at 1.0955 above this; it can fly up to the 1.0956 and 1.0962 levels. Until the h4 candle closes above 1.0965, selling on an upmove will mint money.
The material has been provided by InstaForex Company - www.instaforex.com
