The test of congestion around 90.00 has given way to a short-term corrective bounce, whilst oversold intraday studies unwind.
Focus is turning to 90.50, but negative stochastics and the deteriorating Tension Indicator suggest difficulty sustaining any immediate tests/break. In the coming sessions, consolidation is expected to give way to further losses, with a later close below 90.00 opening up critical support at 89.21/23. Improving weekly charts should prompt fresh consolidation above here.
Focus is turning to 90.50, but negative stochastics and the deteriorating Tension Indicator suggest difficulty sustaining any immediate tests/break. In the coming sessions, consolidation is expected to give way to further losses, with a later close below 90.00 opening up critical support at 89.21/23. Improving weekly charts should prompt fresh consolidation above here.
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We are an award winning independent research firm, covering Macroeconomics, Policy and Financial Markets. Our Technical Analysis coverage spans 40 FX pairs across developed and emerging markets. Register for a free trial at continuumeconomics.com
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.