Resistance – 1.11 (200-DMA + hourly 100-MA), 1.1131 (June 16 low), 1.1177 (rising trend line hurdle)
Support – 1.1088-1.1066, 1.0971, 1.0911
Support – 1.1088-1.1066, 1.0971, 1.0911
- Pair’s failure to take out 1.11 on day end closing basis followed by a break below hourly 50-MA seen now at 1.1052 would open doors for a fall back to 1.10 levels. A violation there could yield 1.0971.
- On the other hand, day end closing above 1.11 would signal a short-term bottom is in place at 1.0911 and could yield a follow through to 1.1202 (hourly 200-MA).
