This area presents a major test for buyers. A break above 0.6407 would open the door for a broader bullish extension, potentially targeting the 0.6427 area which starts with the 50% midpoint of the move down from the September 2024 high. Above that is a swing area up to 0.6444.
If buyers can push through the 0.6390 and then 0.6407 high, it would confirm a strong shift in technical control. On the downside, any failure here could see a retreat toward the 0.6340–0.6320 swing area support region, ahead of the 100 day MA.
For now, momentum is with the bulls—but the battle at the top is just beginning.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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