Consolidation is giving way to a fresh test lower, whilst intraday studies track lower, with prices currently retesting critical support at the 0.8815 Fibonacci retracement.
Daily readings are mixed, suggesting further consolidation around here, but a break will confirm continuation of September 2020 losses towards the 0.8750 retracement. Meanwhile, resistance remains up to 0.8900.
An unexpected close above here will turn sentiment Positive, and signal a more sustainable rally towards 0.8950.
Daily readings are mixed, suggesting further consolidation around here, but a break will confirm continuation of September 2020 losses towards the 0.8750 retracement. Meanwhile, resistance remains up to 0.8900.
An unexpected close above here will turn sentiment Positive, and signal a more sustainable rally towards 0.8950.
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We are an award winning independent research firm, covering Macroeconomics, Policy and Financial Markets. Our Technical Analysis coverage spans 40 FX pairs across developed and emerging markets. Register for a free trial at continuumeconomics.com
Disclaimer
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.