This pair is consolidating at present. The price is moving between 1.16500 and 1.14750. It is currently sitting between its 50 MA and its 100 MA at 1.15433 and 1.15564 respectively. Resistance comes in at the 1.15593 level followed by 1.15780 above. The recent high from Friday comes in at 1.15987 with the 1.16000 level just above followed by the 200 period MA at 1.16062. From there the 1.16233 level was where sellers have started to engage with the market and buyers took profit. The June high was 1.16543 on the 11th of the month.
Support can be seen at 1.15347 close to today’s low of 1.15309. Below this area there is buyers lurking around 1.15000. A drop from this level to the 1.14758 zone can also see buyers engage with the market. Further support is found at 1.14615 down to 1.14500. The 1.14000 remains an area of interest below.
