These technical outlooks are NOT trade ideas, they are simply technical analysis to give traders a DIRECTIONAL BIAS on the day.
Good evening traders!
Spike high to the 1.0653 high was met with an equally sharp pullback with price now trading below 1.05.
The 1.0505 figure marks short-term intraday resistance that may attract sellers.
A push up into the figure may be matched with quick selling. However a sustained break above the figure could put buyers back in control with another push up into the 1.06 area.
Below the 1.05 further downside can be expected with first support at the 1.0425 figure.
I hope this offers some directional clarity on this pair.
Enjoy!
Good evening traders!
Spike high to the 1.0653 high was met with an equally sharp pullback with price now trading below 1.05.
The 1.0505 figure marks short-term intraday resistance that may attract sellers.
A push up into the figure may be matched with quick selling. However a sustained break above the figure could put buyers back in control with another push up into the 1.06 area.
Below the 1.05 further downside can be expected with first support at the 1.0425 figure.
I hope this offers some directional clarity on this pair.
Enjoy!
