These technical outlooks are NOT trade ideas, they are simply technical analysis to give traders a DIRECTIONAL BIAS on the day.
Good evening Traders!
The .6972 resistance figure held almost to the pip at the end of the 2016 year printing a high at .6979.
That high now marks key resistance to keep buyers in check and sellers in control. Below the figure selling opportunities are preferred, however a sustained break above the figure would open up further upside.
The .6862 marks key support preventing further downside. A sustained break is required to open up the downside.
I hope this offers directional clarity on this pair.