The pair has been making lower lows for the last four days. The intraweek trading pattern is framed between 172.60-173.80. On the down side, if the pair hits 172.60, it can fall to 172.36, 172.10, 171.70, 170.95 and 170.70 levels. On the upside, if the pair breaches the resistance at 173.80, it can fly up to 174, 174.27 and 174.50.

Until the pair trades below 173.80, the weekly trend favors the downside.

Until the pair trades below 174.55, the monthly trend favors the downside.

The weekly support level is at 172.60 (50 DSma).

On an intraday basis, the pair is trading just below the hourly moving averages. The pair has strong resistance at 173.50 (34 Hr Sma) and 173.60 (July 18 high). The nearest support levels are at 172.94, 172.80 and 172.69 levels. A break below 172.69, it can extend its fall to 172.36 and 172.10 levels.

Sell only below 172.99 or buy with sl 172.99. cmp 173.15.