“¢ Brexit uncertainties provide the required momentum to finally breakthrough a one-month-old descending trend-channel resistance.
“¢ Aggressive short-covering above the 0.8800 handle lifts the cross back closer to May monthly tops.
“¢ Bulls seem all set to continue with the momentum and the trend-channel breakout point should now protect the immediate downside.
Spot Rate: 0.8833
Daily Low: 0.8774
Trend: Bullish
Resistance
R1: 0.8842 (200-day SMA)
R2: 0.8874 (mid-March swing high)
R3: 0.8900 (round figure mark)
Support
S1: 0.8798 (trend-channel resistance break-point)
S2: 0.8769 (daily pivot-point)
S3: 0.8754 (50-day SMA)
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