Selling continues as 21 and 55 EMA remains crossed downward with SSRC oscillator still showing bearish continuation. Am expecting further decline to 1.0461 support (March 8 2015 low). Decisive break there will confirm down trend resumption and target 50% projection of 1.3993 to 1.0461 from 1.1713 at 0.9947 next.
Selling continues as 21 and 55 EMA remains crossed downward with SSRC oscillator still showing bearish continuation. Am expecting further decline to for 1.4565 support (April 13 low) if we get a decisive break of 1.5028 as long as 1.5335 resistance holds.
Long term bias for the pair remains bullish, however medium term outlook remains neutral initially for the week as long as 0.7281 resistance holds. A decisive break of the resistance will resume the bullish trend, if not we keep selling this pair back to 0.7096/0.7067 demand zones.
Buying continues as 21 and 55 EMA remains crossed upward with SSRC oscillator showing bullish momentum is about to commence in the pair. More rise to 1.3455 high is expected and a decisive break of the resistance will extend price higher in the longer term picture.
The pair traded in tight range last week and outlook is unchanged. Initial bias stays neutral this week first. As long as 122.21 support remains intact, further rise is mildly in favor for 125.27/85 resistance zone. Decisive break there will confirm up trend resumption and will target 130 psychological zones.
Initial bias remains mildly to the downside. Am expecting a re-test of 0.6428 support and a decisive break will bring further decline to 0.6235 low.