This pair dropped below last week's 1.3100 mark and close at about 1.3080 near its weekly low. Continuous support shifts to 1.3040.
The price has reached the point where Fib Extension overlapped with Fib Retracement. So I'd expect it goes upward and a break above 1.31405 to tell that the next resistance is 1.32042.
A break below 1.3038 is needed to reassert a bearish bias again for a fall back to 1.2990.
The price has reached the point where Fib Extension overlapped with Fib Retracement. So I'd expect it goes upward and a break above 1.31405 to tell that the next resistance is 1.32042.
A break below 1.3038 is needed to reassert a bearish bias again for a fall back to 1.2990.