The pair broke a 2-month support trend line, but managed to close above the trend line. The pair is trading at the level 1.1058 in Asia. In the hourly chart the RSI gives a positive indication, expect some pullback towards 1.1084 and 1.109. If the pair breaks below 1.1055, more panic is expected towards 1.0968 and 1.095. From October 2013 onwards the pair is taking support at 21 and 40DEMA levels. Currently, the level of 1.105 is the 21DEMA and 1.0986 is the 40 DEMA. If the price breaks the important EMA’s, the next strong support will be at the level of 1.09487. Overall, the trend is very weak, sell on rallies.
S1 1.105 R1 1.1084
S2 1.104 R2 1.1097
The material has been provided by InstaForex Company – www.instaforex.com
The pair broke a 2-month support trend line, but managed
to close above the trend line. The pair is trading at the level 1.1058 in Asia. In the hourly chart the RSI gives a positive
indication, expect some pullback towards 1.1084 and 1.109. If the pair breaks below 1.1055, more panic is expected towards 1.0968 and 1.095. From October 2013 onwards the
pair is taking support at 21 and 40DEMA levels. Currently, the level of 1.105 is
the 21DEMA and 1.0986 is the 40 DEMA. If the price breaks the important EMA’s,
the next strong support will be at the level of 1.09487. Overall, the trend is very weak, sell on
rallies.
S1 1.105 R1 1.1084
S2 1.104 R2 1.1097
The material has been provided by InstaForex Company – www.instaforex.com
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