The 1.0943 level held the highs again last week into the FOMC rate decision, and with a pullback developing over the past four trading days, the stalling from buyers has become quite evident. The big test, however, is whether bears can push through a couple of key supports that are just below price: The 1.0750 psychological level continues to loom large, and that's very nearby the 200-day moving average that plots around 1.0730.
If sellers can stretch down there, but buyers hold and bring a bounce, the question then is whether lower-high resistance can come into play and for that, both 1.0865 and 1.0800 are of interest. - js
If sellers can stretch down there, but buyers hold and bring a bounce, the question then is whether lower-high resistance can come into play and for that, both 1.0865 and 1.0800 are of interest. - js
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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.