Pair’s failure at 10-DMA level of 1.1297 if followed by a break below 1.1264 (50% of 1.1616-1.0911) would result in a sell-off to 100-DMA level of 1.1222, under which a major support is seen at 1.12.
The daily RSI is above 50.00, hence fresh bids could be noted in case the spot manages to hold above 100-DMA levels.
On the higher side, only a day end close above 1.13 could yield a re-test of 1.1366 (Aug 18 high).
The daily RSI is above 50.00, hence fresh bids could be noted in case the spot manages to hold above 100-DMA levels.
On the higher side, only a day end close above 1.13 could yield a re-test of 1.1366 (Aug 18 high).
