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Intraday: Bullish
Technical Analysis
Preference:
Buy position is envisaged if price trades above 1.11555 with take profit at 1.11750.
Alternative scenario:
Sell position is envisaged if price trades below 1.10937 with take profit at 1.10659
Fundamentals:
No major economic data with direct bearing on the pair
Comment: The Greenback is currently pressured by the seeming recovery of global economies in the light of mass protest in the US as a result of the death of a black man in police custody. With the bullish run on the pair intact a buy trade is envisaged once it goes above the resistance on the hourly chart.
Analysis: SCRUM Team
