The pair has been edging higher for 4 consecutive days, but failed to breach the parallel resistance. The nearest resistance is seen at 1.3020 and 1.3150. The monthly parallel support resistance is expected at 1.3063. In all time frames, the pair remained at the bullish territory aiming for 1.3300, but oscillators indicatws the highly overbought market with negative mild divergences.
Intraday resistance i9s seen at 1.3020 and 1.3070. From here, an upside journey is limited. Intraday support is found at 1.2970, 1.2950, and 1.2900.
Trade: Sell below 1.2950, accelerates below 1.2900.
The material has been provided by InstaForex Company – www.instaforex.com