Technical Analysis and Outlook
The downtrend is in progress, however, presently the currency is in the no-mans-land territory, hovering between Mean Res 1.1390 and Mean Sup 1.1330. The upside potential is likely at a point with resistance seeing Mean Res 1.1480.
To the downside, we have Mean Sup 1.1261 and Key Sup 1.1218 along with completed Inner Currency Dip 1.1238 including outer Currency Dip 1.1215 to be entertained in the near-term. (For more Market Commentary, please visit the TradingSig_dot_com).
The downtrend is in progress, however, presently the currency is in the no-mans-land territory, hovering between Mean Res 1.1390 and Mean Sup 1.1330. The upside potential is likely at a point with resistance seeing Mean Res 1.1480.
To the downside, we have Mean Sup 1.1261 and Key Sup 1.1218 along with completed Inner Currency Dip 1.1238 including outer Currency Dip 1.1215 to be entertained in the near-term. (For more Market Commentary, please visit the TradingSig_dot_com).