Haresh Menghani, an analyst at FXStreet, points out the 1.1900/20 region as a strong resistance for the cable.
Key quotes
“The 1.1900-20 region now becomes immediate strong resistance, which if cleared decisively, might be seen as a key trigger for bullish traders and set the stage for a move towards reclaiming the key 1.2000 psychological mark.”
“The 1.1760-55 horizontal zone now seems to have emerged as immediate support, below which the pair is likely to slide back below the 1.1700 round-figure mark and test overnight swing lows, near the 1.1640-35 region.”
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