Key Resistance Levels 1.2150    1.2294    1.2412

Key Support Levels 1.2040    1.1961    1.1762

Weekly Technical Analysis:

The price is currently trading below 200 sma in daily chart and we expect it to continue with its rally towards the 1.2294-1.2412 resistance zone. We expect 1.1961 to act as a key support for this bullish outlook. It is important to note that a sustained break below this level turned this scenario into one of consolidation. if 1.1762 is broken, the price will sharply drop towards another significant support level of 1.1452.


Happy Pips!


Disclaimer: This content is strictly for informational purposes only and does not constitute as investment advice.