- The pair is advancing for the second session in a row on Monday, retaking the 1.1700 handle and above after bottoming out in the mid-1.1600s on Friday.
- Spot so far surpassed the key resistance area around the 1.1700 handle, where sits the 200-hour SMA and considered quite a relevant level.
- Immediately above is located the 1.1720 region, where converge a retracement from the April-May decline and the December 2017 low. Further gains to the critical 1.1790/1.1800 band should come to the fore if this band is cleared.
- The loss of the 21-day SMA, today at 1.1657 should pave the way for a visit to the 1.1530 region ahead of the 1.15 neighbourhood.
- The daily RSI (14) is hovering over the 51 level, signaling that a consolidative trade remains in place.
Daily high: 1.1711
Daily low: 1.1675
Support Levels
S1: 1.1637
S2: 1.1588
S3: 1.1563
Resistance Levels
R1: 1.1712
R2: 1.1737
R3: 1.1786
Share
