Euro’s retreat from Tuesday’s high of 1.1234 to Wednesday’s low of 1.1131 suggests a short-term loss of momentum following a sharp rally from the post Fed low of 1.0952 and could yield congestion in the range of 1.1181-1.1130 levels.
Only a day end close above 1.1236 would indicate the rally from post Brexit low has resumed.
On the other hand, a daily closing below 1.1124 (back inside falling channel) would signal a top is in place at 1.1234 and prices are now heading back to 1.10 handle.
Only a day end close above 1.1236 would indicate the rally from post Brexit low has resumed.
On the other hand, a daily closing below 1.1124 (back inside falling channel) would signal a top is in place at 1.1234 and prices are now heading back to 1.10 handle.
