Previous short-term technical outlook:
Since the previous short-term technical outlook the spike high at 1.05 remains keeping buyers in check. It now marks our first short-term institutional resistance. Below the 1.05 figure and below this swing high at 1.047 we can expect to see further downside.
First institutional support is at 1.0424.
A break below the support level will put sellers back in control and eye the previous swing low of last week.
I hope this gives some clarity of the directional bias on this pair.
Enjoy!
Since the previous short-term technical outlook the spike high at 1.05 remains keeping buyers in check. It now marks our first short-term institutional resistance. Below the 1.05 figure and below this swing high at 1.047 we can expect to see further downside.
First institutional support is at 1.0424.
A break below the support level will put sellers back in control and eye the previous swing low of last week.
I hope this gives some clarity of the directional bias on this pair.
Enjoy!
