This week the pair started by holding the 20Wsma.The weekly support level existed at 172.34 levels. Until the pair closes above the 20Wsma, we expect some up move to be under this pair. In yesterday's session, the pair hit the 50Dsma and closed below that. The daily stochastics is indicating the sell mode. In today's session the pair opened with support at 100Dsma and moving forward. The pair has support at the 172.40, 172, and 171.60 levels for the near term; 171.25 and 170.47 are the support levels for a short term. Bulls must close above 172.89 to make a high at the 174 level in the near term.
Support is at172, 171.25, and 170.47.
Resistance is at 172.90, 173.50, and 174.
Intraday cmp 172.66.
For an intraday basis, the pair is facing strong resistance at 34hesma or 172.35 and it made a hourly top at 172.74. The hourly Stochstics (h4) is indicating a pull back. The price is closed and trading below the hourly key moving averages 12ema and 35DEMA. It results negatively in the hourly trading system. Until the price closes above 173.10, bears try to take the pair to lower levels. We strongly recommend buying above 173.10, until then sellers mint the money.
Resistance is at 172.75, 172.86, and 173.10.
The material has been provided by InstaForex Company - www.instaforex.com
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