Resistance – 1.4710, 1.4770, 1.4806
Support – 1.4686, 1.4662, 1.4636
Support – 1.4686, 1.4662, 1.4636
- Pair is trading above its daily 200-day moving average for the first time since November 2015.
- Failure to take out 1.4710 (black trend line resistance on daily) on hourly timeframe followed by a break below 200-MA on daily at 1.4686 would open doors for a re-test of 1.4636 (38.2% of Fibo retracement of July 2015 high-Feb 2016 low).
- On the higher side, resistance at 1.4770 could be put to test if resistance at 1.4710 is breached on hourly closing basis.
