It has been in an uptrend from 1.9080 levels. It paused its rally at the 61.8 fib level and rejected at 50-week Sma. In the daily chart, the pair is trading below the major short-term averages. The 200-day Ema level is acting as a heavy resistance level. In Asia's session the pair made a high at 1.9555 and started moving lower. It has resistance at 1.9557, above this, 1.9597-1.9616 levels. We recommend fresh longs above 1.9616 for 1.9690 and 1.9810 levels.
It has support at 1.9510 levels. Until the pair breaches 1.9616, selling on the rise is the best strategy for 1.90 levels. If the pair breaks the down side symmetric trend line, we can see huge selling pressure up to 1.9437 and 1.9355 (minor double bottom). The panic will be triggered below 1.9355 for 1.9270, 1.9092 and 1.90 levels.
