Hello Traders!
With the 1.048~ resistance level holding very firmly after the 1.05 spike high we are now seeing a significant sell-off.
Bias is to the downside now and shorting opportunities are preferred as long as we remain below 1.05.
There is strong support at the 1.0335 figure which marks the 2003 low that needs to be broken for continued weakness on this pair.
However if price manages to break below 1.0335 it will open up the downside.
With the 1.048~ resistance level holding very firmly after the 1.05 spike high we are now seeing a significant sell-off.
Bias is to the downside now and shorting opportunities are preferred as long as we remain below 1.05.
There is strong support at the 1.0335 figure which marks the 2003 low that needs to be broken for continued weakness on this pair.
However if price manages to break below 1.0335 it will open up the downside.
