Major resistance- 0.7600 (Apr 21st high).
Major support – 0.7520 (23.6% retracement of 0.7280 and 0.75988).
The pair is facing strong resistance at 0.7600 and any break above 0.76000 confirms the major trend reversal. It is currently trading around 0.75960.
On the higher side, any violation above 0.76000 will take the pair to next immediate resistance 0.7680/0.7745 (Mar 13th 2016 high)/0.777 (161.8% retracement of 0.7570 and 0.72470).
The immediate support is at 0.7520 and any break below will drag the pair down till 0.7484 (9- day EMA)/0.7441 (21-day MA).
It is good to buy above 0.7600 with SL around 0.7520 for the TP of 0.7750/0.7770.
Major support – 0.7520 (23.6% retracement of 0.7280 and 0.75988).
The pair is facing strong resistance at 0.7600 and any break above 0.76000 confirms the major trend reversal. It is currently trading around 0.75960.
On the higher side, any violation above 0.76000 will take the pair to next immediate resistance 0.7680/0.7745 (Mar 13th 2016 high)/0.777 (161.8% retracement of 0.7570 and 0.72470).
The immediate support is at 0.7520 and any break below will drag the pair down till 0.7484 (9- day EMA)/0.7441 (21-day MA).
It is good to buy above 0.7600 with SL around 0.7520 for the TP of 0.7750/0.7770.
