EUR/USD imp level 1.1040

The major trend of EUR/USD is bearish but from past few trading sessions prices are not sustaining at lower levels & consolidating near the important level of 1.1040. In its 4 hourly chart, prices are consolidating with strong positive bias to give break out at upside. It is also taking support of 30 DMA. If the pair breaks the important level of 1.1040 at upside then we can expect it to test the level of 1.1095/1.1140.

INDICATORS:-

RSI is sustaining in buying territory supporting the upcoming bullish trend in the pair.

MACD line is also sustaining in buying territory indicating the bullish trend in the pair.

STRATEGY:- EUR/USD has bounced back from the lower level & looking bullish on charts for next few session. One can go for buy on dips strategy for this pair for intra day to mid term positions.

	S3	S2	S1	PIVOT	R1	R2	R3
EUR/USD	1.0791	1.0845	1.0909	1.0963	1.1027	1.1081	1.1145
GBP/USD	1.4690	1.4758	1.4819	1.4887	1.4948	1.5016	1.5077
USD/JPY	118.56	118.89	119.19	119.52	119.82	120.15	120.45
USD/CHF	0.9487	0.9518	0.9558	0.9589	0.9629	0.9660	0.9700
AUD/USD	0.7729	0.7777	0.7811	0.7859	0.7893	0.7941	0.7975
EUR/GBP	0.7298	0.7319	0.7346	0.7367	0.7394	0.7415	0.7442
USD/CAD	1.2407	1.2439	1.2477	1.2509	1.2547	1.2579	1.2617
NZD/USD	0.7450	0.7516	0.7561	0.7627	0.7672	0.7738	0.7783