Key levels for the pair:
Support:
- 0.5980: The bottom of the MA band.
- 0.5945: The meeting point (which will be reached soon) between the rising trend line from the bottom seen 10 days ago, and an intraday resistance line from a top which followed.
Resistance:
- 0.6040: The falling trend line from the most recent top.
- 0.6069: Key Fibonacci level.
A break of 0.5945 or 0.06069 deserves to be followed. Trading above the MA at the moment may indicate that we are closer to a break to the upside & not the downside, however, wait for the break first!
Support:
- 0.5980: The bottom of the MA band.
- 0.5945: The meeting point (which will be reached soon) between the rising trend line from the bottom seen 10 days ago, and an intraday resistance line from a top which followed.
Resistance:
- 0.6040: The falling trend line from the most recent top.
- 0.6069: Key Fibonacci level.
A break of 0.5945 or 0.06069 deserves to be followed. Trading above the MA at the moment may indicate that we are closer to a break to the upside & not the downside, however, wait for the break first!