The anticipated break above 104.00 is settling into consolidation beneath 104.50/58, whilst overbought intraday studies unwind.
Daily studies have turned higher, and broader weekly charts continue to strengthen, however, pointing to a later break and an early sign of a correction of the March 2020 bear trend.
Meanwhile, support is raised to 104.00. Any immediate break should continue to find fresh buyers towards 103.50.
Daily studies have turned higher, and broader weekly charts continue to strengthen, however, pointing to a later break and an early sign of a correction of the March 2020 bear trend.
Meanwhile, support is raised to 104.00. Any immediate break should continue to find fresh buyers towards 103.50.
We are an award winning independent research firm, covering Macroeconomics, Policy and Financial Markets. Our Technical Analysis coverage spans 40 FX pairs across developed and emerging markets. Register for a free trial at www.continuumeconomics.com