6840's poses major resistance for the pair. Should the move upward continue, we may see a rejection here. If not, and a bearish movement comes into play 6520's could be a target for the downside.
Potential upside while still in the channel down.
If a break tot he upside potential target for short 0.6458 +/-
I am no Elliot wiz by any stretch, but the 118.80-119.10 area looks to be a great area to short this pair.
I was perusing the DXY and found an old chart still mapped out from 2018. It looks like the $ took the path of a bullish trend. If it continues, possibly 110 in the future.
I feel like this was just a retest of a bigger break to the upside. I could be wrong.
Possible point to the upside or down.