This pair is sitting right on top of a major daily chart support level.
As the daily chart shows, price in recent times has rejected this level twice with strong moves back higher. The first time we saw price form an engulfing bar and move higher and recently and inside bar with another strong move higher.
So far we have not seen the same rejection of this level.
If price can break this level in the next few sessions, then we can start to look for potential short breakout trades.
As the daily chart shows, price in recent times has rejected this level twice with strong moves back higher. The first time we saw price form an engulfing bar and move higher and recently and inside bar with another strong move higher.
So far we have not seen the same rejection of this level.
If price can break this level in the next few sessions, then we can start to look for potential short breakout trades.