Technical Outlook and Chart Setups:
As depicted here, the single currency pair is bouncing back from the 110.50/60 region, which is past resistance turned support. It remains a possibility that prices retrace further down to 109.00/50 region before further upside is seen. Support begins from the 106.00 region followed by 105.00; while resistance is not before 114.00 region. It is recommended to buy on intraday troughs from here on. If 110.60 breaks, 109.00/50 would be reached before the next bull run begins.
Trade Recommendations:
Buy intraday dips towards 109.50-110.00.
Good Luck !
