Yesterday's short-term technical outlook:
Price failed to get above the .7232 resistance figure we were watching in yesterday's short-term technical outlook. As expected the rally was quickly met with a selling pressure. We now see the .722 resistance figure to keep the buyers in check, below will keep sellers in control and only a sustained break above will signal a deeper pullback.
May be bottoming out down here with strong support now formed at the .716 figure. Only a sustained break below will signal continued downside on this pair.
Selling opportunities are still preferred at this point in time.
I hope this offers some directional clarity on this pair.
Enjoy!
Price failed to get above the .7232 resistance figure we were watching in yesterday's short-term technical outlook. As expected the rally was quickly met with a selling pressure. We now see the .722 resistance figure to keep the buyers in check, below will keep sellers in control and only a sustained break above will signal a deeper pullback.
May be bottoming out down here with strong support now formed at the .716 figure. Only a sustained break below will signal continued downside on this pair.
Selling opportunities are still preferred at this point in time.
I hope this offers some directional clarity on this pair.
Enjoy!
