Yesterday's short-term technical outlook:
With the .716 short-term support holding today and the back side of the resistance trend line holding as support we are seeing an easing in selling pressure. A deeper pullback is not yet confirmed however until we break above .7232.
If price does break above the latter we will likely see a deeper pullback with next key institutional resistance at .728.
Below .7232 resistance keeps sellers in control.
I hope this offers some clarity on the directional bias of this pair.
Enjoy!
With the .716 short-term support holding today and the back side of the resistance trend line holding as support we are seeing an easing in selling pressure. A deeper pullback is not yet confirmed however until we break above .7232.
If price does break above the latter we will likely see a deeper pullback with next key institutional resistance at .728.
Below .7232 resistance keeps sellers in control.
I hope this offers some clarity on the directional bias of this pair.
Enjoy!
