Price has shown a bullish breakout from the descending trendline resistance-turned-support, and is also holding above the moving average as well. We could see a further rise from 1st support at 0.69519 in line with 50% Fibonacci retracement and horizontal overlap support, towards 1st resistance at 0.70270 in line with 78.6% Fibonacci retracement and 127.2% Fibonacci extension. Our bullish bias is further supported by how Price is holding above the Ichimoku cloud and RSI is being held up by a corresponding ascending trendline support. Otherwise Price may bearish towards 2nd support at 0.69213 in line with 50% Fibonacci retracement and 38.2% Fibonacci extension.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.