The cross is sitting on a big support on the daily chart. Today in Asia session low made in 1.0855 and early Jan 2018 low was 1.0840. Immediate support zone remains between 1.0830-1.0800 it’s 50MA and 100EA on the weekly chart. The daily 200MA finds at 1.0835.

If the bulls lost the 200MA then 1.0800 and 1.0765 are the nearest destinations. The selling pressure will be accelerated below 1.0760 for 1.0720 the 61.8 fib reaction (below chart).

Intraday support: 1.0830 and 1.0800

Resistance: 1.0880/1.0900 and 1.0925

Weekly range: 1.0800-1.1000 vs 1.0800-1.1050

In early Jan 2018, the price was capped at 1.1050 and again capped at 1.1000 last week.

It is important to always keep in mind the risks involved in trading with leveraged instruments.

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