The next key zone was defined by a swing area between 140.248 and 140.800, which also contains the 61.8% retracement of the move up from the January 2023 low, coming in at 140.483. Today’s low reached 140.480—right at that retracement level—before bouncing modestly higher.
For buyers to regain more control, they would need to push the price back above 141.670 and hold it. A move above that level would shift the short-term bias back toward the upside and give sellers a reason to reassess the failed break.
I outline all the key technical levels and dynamics in the video above.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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