Short-term view
The pair successfully closed above 50WSma in previous weeks and moved to a three-month high. The pair made a double bottom at 0.8699 levels. But, this week the pair made a double top at 0.9052, as of now, above this, it will fly up to 0.9120 (20MSma) and 0.9160 (200WSma). On the down side, it has strong monthly support at 0.8985 (50WSma) and 0.89 (20WSma) levels.
Monthly
Resistance: 0.9052
Support: 0.8985, 0.89, 0.8857
Fresh buy above 0.9052
Weekly basis (July 29-August 01)
The pair has strong support at 0.9035, 0.90 and 0.8960 levels. Use a dip to buy for a higher target.
The material has been provided by InstaForex Company - www.instaforex.com
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