The pair has been trending strongly higher, however price hits a major resistance juncture and a confluence of long term technical levels.
-161.8 extension level for the latest bearish wave
-Main channel ceiling
-Short term channel ceiling
-Main Horizontal resistance level over the weekly chart
I expect a bearish pullback towards a retest of 1.1455 area as a minimum target.
Best of luck. Join me at twitter.com/thefxchannel
Also at my Facebook page www.thefxchannel.com
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My best regards,
Technician
-161.8 extension level for the latest bearish wave
-Main channel ceiling
-Short term channel ceiling
-Main Horizontal resistance level over the weekly chart
I expect a bearish pullback towards a retest of 1.1455 area as a minimum target.
Best of luck. Join me at twitter.com/thefxchannel
Also at my Facebook page www.thefxchannel.com
Google Plus : plus.google.com/+Thefxchannel0/posts
My best regards,
Technician