During this week, traders will eye on the retail sales, ZEW economic expectations, PPI data. The pair indicating a buy on dips strategy for positional basis. In Asia's trading session, the pair is trading at 0.8871. On positional basis, the pair has strong supports at 0.8815 and 0.8776. If it reaks below the 0.8776 level, it will fall up to 0.8744 which is a crucial support for bulls to hold. On the up side, 0.8880 is the strong resistance level above this 0.8952, and 0.90 is the positional targets.
For intraday and STBT basis, the pair is in the complete sell mode. Traders can sell at cmp 0.8870 or even at the higher level. It's a complete mode for the pair during intraday session. We expect the pair will fall up to 0.8850, 0.8815 and 0.8790 levels. The hourly momentum indicators favors to sell side.
