These technical outlooks are NOT trade ideas, they are simply technical analysis to give traders a DIRECTIONAL BIAS on the day.
Good evening traders!
Holding the 1.22 support figure brought in significant buying pressure on this pair.
Price took out the 1.2307 resistance marked in yesterday's short-term technical outlook and has since held as support.
Spike high just shy of the 1.2356 resistance is the only thing easing the upside pressure at this point... A revival will likely put sights up to key resistance at 1.2388.
A swift push into the latter resistance will likely be met with swift selling. However if price breaks above the figure it will likely open up further upside.
I hope this offers some directional clarity on this pair.
Enjoy!
Good evening traders!
Holding the 1.22 support figure brought in significant buying pressure on this pair.
Price took out the 1.2307 resistance marked in yesterday's short-term technical outlook and has since held as support.
Spike high just shy of the 1.2356 resistance is the only thing easing the upside pressure at this point... A revival will likely put sights up to key resistance at 1.2388.
A swift push into the latter resistance will likely be met with swift selling. However if price breaks above the figure it will likely open up further upside.
I hope this offers some directional clarity on this pair.
Enjoy!
