Repeated failure to hold above September high of 104.32 coupled with back to back Doji candles on the daily chart and sign of short-term moving averages – 5-DMA & 10-DMA topping out suggests the retreat seen in Asia to 103.70 is likely to be extended to 103.00 levels.
On the higher side, only a move back above Asian session high of 103.95 would signal bearish invalidation, although fresh buying is seen only above 105.00 levels.
On the higher side, only a move back above Asian session high of 103.95 would signal bearish invalidation, although fresh buying is seen only above 105.00 levels.
