Zooming out to the broader hourly chart, the pair is now approaching the 61.8% retracement of the June 23 high at 145.978, and a key swing area between 145.919 and 146.288. This upper region has proven to be strong resistance in recent months. While buyers have managed to push above it twice — in May and late June — each breakout attempt quickly faded, reinforcing the range’s upper boundary.
In the short term, support now comes in at:
145.216: last week’s high
Holding above these levels keeps the buyers in control intraday. A move below would ease bullish pressure and refocus attention on the 200-hour MA.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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