Pair’s sharp rally from yesterday’s low of 1.2089 to as high as 1.2325 in Asia suggests a temporary low is in place and the spot could rise further to falling trend line resistance seen currently around 1.2440, especially since we have a bullish price RSI divergence on the 4-hr chart.
On the 4-hr chart, both the 5-MA and 10-MA are still sloping onwards, hence the spot could retreat to 1.22 -1.2180 levels before moving higher again.
On the 4-hr chart, both the 5-MA and 10-MA are still sloping onwards, hence the spot could retreat to 1.22 -1.2180 levels before moving higher again.
