The retreat from 1.2546 (today’s high) looks like a usual shakeout following a breakout. The spot breached the descending trend line yesterday.
A rebound from around the trend line support appears likely, given the bullish daily RSI and upward sloping ST MAs – 5 & 10.
On the downside, only a daily close below 1.2250 would revive bearishness.
A rebound from around the trend line support appears likely, given the bullish daily RSI and upward sloping ST MAs – 5 & 10.
On the downside, only a daily close below 1.2250 would revive bearishness.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.