The pair is trading by 76.00 and in a short-term could test the 75.50 low. Breaking below 75.50 would open a fresh downside extension ahead of 70.00 in a medium-term. However, should the pair hold above 75.50, we could see a rebound back towards the 77.15-77.30 resistance area, right where both the 100-Day SMA and the 50-Day SMA reside.
Edward Smith, technical analyst of company Admiral Markets.
At any use of the analytical material taken from a site of company Admiral Markets, and the secondary publication on any other resources, the rights to intellectual property for a dealing centre «Admiral Markets», the reference to a company site is obligatory.
