Intraday: Bearish
Technical Analysis
Preference:
Sell position is envisaged if price trades below 1.12180 with take profit at 1.11964.
Alternative scenario:
Buy position is envisaged if price trades above 1.12702 with take profit at 1.13274.
Fundamentals:
No major economic data with direct bearing on the currency pair.
Comment: The pair is currently trading on an upward channel on the daily chart suggesting the possibility of advancement this week but the gains could be limited by the sentiment of a second wave of infection.
Analysis: SCRUM Team
