The pair successfully breached the 200DEma and exactly closed at that level after making a minor double bottom at 136.63. The pair took the parallel support at 136.20, made a low at 136.36, and started moving higher. The oversold daily RSI helped the pair hit a weekly high. The pair is facing strong resistance at 138.20 50WSma, 138.30 50DSma and the lower end of the symmetric triangle. A day close above 138.30, we can see strong short-term bull power towards 139.25 and 140 levels.

Trading range 136.20-136.63-138.30

Weekly resistance 138.30

Weekly support 136.63

Intraday cmp 137.77

The pair is trading above the 21HrSma, 34HrSma and 35Dema that is a bullish sign in the near term, above the near term moving averages. As long as prices close above it, technicals remain strong: only closing/sustaining below it would reverse the near-term trend.

Support

21 Hr Sma 137.15

34 Hr Sma 136.90

For hourly trading (speculators), sell at the cmp at 137.77 for a small target at 137.60 (12 hr low), below this, 137.46, 137.40, 137.30 and 137.15. Use a dip to buy at 137.15-136.90 if it comes. On the upper side, above 137.85, it will fly up to 138.05 and 138.15 levels.