Yesterday's short-term technical outlook:
The 117 short-term support figure has held since our previous outlook on this pair. With the resistance trend line being broken to the upside and since then acting as support we may be seeing a push to the upside.
Price has yet to sustain above the 117.63, which will be required for further upside. If however price manages to sustain above the 117.63 resistance figure we will put our sights up to the next resistance figure at 118.24.
We can still expect to see further consolidation on this pair as long as we remain below 118.66, however with the upside pressure buying signals are preferred at this time.
I hope this offers some clarity on the directional bias of this pair.
Enjoy!
The 117 short-term support figure has held since our previous outlook on this pair. With the resistance trend line being broken to the upside and since then acting as support we may be seeing a push to the upside.
Price has yet to sustain above the 117.63, which will be required for further upside. If however price manages to sustain above the 117.63 resistance figure we will put our sights up to the next resistance figure at 118.24.
We can still expect to see further consolidation on this pair as long as we remain below 118.66, however with the upside pressure buying signals are preferred at this time.
I hope this offers some clarity on the directional bias of this pair.
Enjoy!
