Failure to hold above 1.25 despite and a retreat to 1.2473 (near 5-DM support) despite Thursday’s bullish daily close above 1.25 coupled with the breach of the rising trend line on the hourly chart suggests potential for an intraday dip to 1.2450.
Watch for an hourly close back above trend line as that would add credence to the rebound from near 5-DMA support and open doors for a revisit to 1.2531 and possibly to 1.2560
Watch for an hourly close back above trend line as that would add credence to the rebound from near 5-DMA support and open doors for a revisit to 1.2531 and possibly to 1.2560
