We are currently trading in a 30 pip range.
1) If we close above 123.475, look for support to form on lower timeframes before executing buys to fill the range up to 123.800, I have highlighted a potential barrier.
2) If we close below 123.175, we can look to target the next support down at 122.950, and if Asian volume pushed price down maybe even target 122.550. For sells to be valid we need a break of 123.175, and resistance to form on lower timeframes
Buys are looking good now however.
1) If we close above 123.475, look for support to form on lower timeframes before executing buys to fill the range up to 123.800, I have highlighted a potential barrier.
2) If we close below 123.175, we can look to target the next support down at 122.950, and if Asian volume pushed price down maybe even target 122.550. For sells to be valid we need a break of 123.175, and resistance to form on lower timeframes
Buys are looking good now however.
