Despite sharp rally on Tuesday, the pair’s failure to re-enter channel formation yesterday and in Asia today suggests bears could still make a comeback especially if the prices drop below daily 50-MA on day end closing basis today. In such a case, a revisit of Sep 6 low of 0.8334 appears likely.
In case, the cross moves back inside the channel, a bout of consolidation appears likely.
In case, the cross moves back inside the channel, a bout of consolidation appears likely.
