Today momentum has continued with the price falling below a swing level at 0.90314, but stalling near a swing area between 0.8997 0.9011. Getting below that level would open the door for further selling with the low price from last week at 0.89654 the next target.
On the topside in the short term watch 0.90314 as resistance. If the price moves back above that level we could see rotation back toward the 61.8% retracement target at 0.90537.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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