Yesterday, the pair broke below key technical levels:
The 200-bar MA on the 4-hour chart (green line on the chart above), A rising trendline, and the Prior week’s low.The price has been above that MA, but so far momentum has been limited. If momentum above the door opens toward the highs for the year once again.
? Key support:
Trend line - 0.6458
? Key resistance:
Upper swing area: 0.6534 – 0.6553
Buyers have regained the upper hand on the failed break lower —for now. Watch the moving averages to see if they keep it.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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