In yesterday's session, the pair hit the 20 Dsma and closed below that. The pair has a weekly support between 173.24-173. Today, the pair opened with support of previous close and is showing good strength to touch 20Dsma. After a week of consolidation, the pair has been going through correction for the last 2 days. In the H4 chart, the pair is facing strong resistance in the ascending trend line and the 61.8 fib level. Above this, it can fly up to 176.66 levels. The prices are closed and trading below hourly key moving averages. We can clearly see the broadening top on the h4 chart. The pair has resistance at 176 above this 176.45, 177 and broadening descending trend line.
Resistance is at 176, 176.45, and 177.
Fresh buy only above 175.85.
Sell only below 175.
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