The pair has declined sharply after breaking the rising wedge,
We can notice a negative divergence on RSI, and the pair currently facing a support level at 0.7155, with breaking this level we expect further selling pressure targeting 0.7115. Current resistance would be at the upper line of sideways channel at 0.72.
We expect further decline after the pair stabilized below the neck line of the head and shoulder pattern, targeting levels of 0.7050 then 0.6870. current resistance would be at 0.7230.
The pair rose after bouncing higher from the neckline of a head and shoulder pattern on the daily chart, current resistance would be at 0.7335, if prices exceeded it our negative outlook turns to a positive targeting 0.7550/75. Or with breaking the neckline, we would see prices targeting 0.69.
The pair is facing an important support at 0.7220/0.7200, breaking this area would continue decline targeting 0.7050.
We can notice that an inverted head & shoulder pattern is forming, breaking the neck line at 0.7450 would send prices higher targeting 0.7511. current support would be 0.7420/0.74.
The pair managed to break the support level we have mentioned about it yesterday at 0.7466, and it continued to decline and approaching level of 0.74 as we mentioned. We expect prices to bounce higher for testing 0.7460 and then back to 0.74 again then 0.7330.
The pair is approaching a support level at 0.7466m we expect further decline with the break of this level targeting 0.74. current resistance would be at 0.7525, exceeding it would send prices higher to 0.7555/75.
Currently the pair is facing a support level at 0.7480, if it succeeded to bounce higher from this level, we would see prices reaching resistance at 0.7522/60. Breaking this support would send prices down to 0.7460/00
The pair managed to breakthrough a resistance level at 0.7485, the highest peak since September 2016, beside breaking through the upper line of an ascending channel, so we expect prices to target 0.7740. it would test support level at 0.75 before continuing rising.
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