On the weekly and daily charts the pair faces strong resistance levels as shown in chart:
Sell the pair from current levels with targets 105 and stop loss above 110.
- The trend line from the top 125.85, which started its course in mid-2015.
The 100 SMA at 109.75 and the 200 SMA at 109.94 level.
Resistance lines for previous tops and lows between 109.24 and 109.67.
The 50% Fibonacci retracement level from 114.53 is high at 109.51.
On the daily chart we can see the formation of a reversal rising wedge pattern.
Sell the pair from current levels with targets 105 and stop loss above 110.