The pair broke the support of 0.63749 and chase 0.62664 downward and consolidate at this level for day and finally make bull move to 0.63821 and test the previous support level which now become resistance.the pair was in ascending bullish channel from 19 march 20 and finally break that channel on 15 April 20 .on daily frame pair face resistance from 52 period moving average and close below the moving average which will be consider a sign to continue its downward trend in bigger picture.moreover U.S. President Donald Trump said on Saturday that Texas and Vermont will allow certain businesses to reopen on Monday while still observing coronavirus-related precautions and Montana will begin lifting restrictions on Friday. This will give strength to green back.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.