Pair’s rejection at 0.8705 (61.8% of 0.9800-0.6933) coupled with a bearish inverted hammer candle and overbought money flow index suggests a short-term top has been made at 0.8725 and the cross is likely to head towards 0.86 handle over the next few days.
On the higher side, only a day end close above 0.8725 would signal continuation of the rally.
On the higher side, only a day end close above 0.8725 would signal continuation of the rally.
