The pair has been in a down trend from 1.1029 levels. It was rejected at 200-day EMA and beaten very badly. The pair chopped the breakout trend line and closed below the 50-day Sma. Curently, the pair has support at 1.0759 levels. We expect the next fall will be only below 1.0759 levels. Below 1.0759, it will fall to 1.0742 and 1.0640 levels. For a positional basis, until the pair closes below 1.0844, selling on the rallies is the best strategy. On the up side, the pair has strong resistance at 1.0790. Buyers get a chance to buy above 1.0790 for 1.0830 and 1.0844 levels.
For an intraday basis, in Asia's session the pair is trading at 1.0775 levels. The pair has support at 1.0760 levels. On the up side, it has resistance at 1.0793 (35 H Dema). Above this, it can fly up to 1.0820 (21 Hr Sma), 1.0833 levels. The hourly momentum oscillators favor pullback side.
Buy above 1.0793.
