The pair fell yesterday to near the support level 1.000 – 0.9990 after failing to breach the resistance 1.0060 (the first target of the bullish scenario) … Although the failure of the scenario of the fall is below 0.9980 but it is better to wait for the price to return to trade higher 0.10060 to confirm the possibility of resuming the upward trend To the second target at the November high of 1.0125 which breached a daily close might push the price to target the resistance at least 1.0225.
A continuation of the downtrend and a break of 0.9980 with a four hour closing might push the price to test support at 0.9910 as the first target and then 0.9840 as the second target.
Tags:
Related Posts
