Pair's bullish daily close on Wednesday above the September high of 104.32 has opened doors for a rally to 105.00/105.50 levels in the short-term.
The daily RSI is above 50.00 and well short of overbought territory, which suggests potential for a further upside move. Rebound from the 5-DMA support in Asia further adds credence to the bullish view.
On the lower side, only a daily close back below 104.32 would signal bullish invalidation.
The daily RSI is above 50.00 and well short of overbought territory, which suggests potential for a further upside move. Rebound from the 5-DMA support in Asia further adds credence to the bullish view.
On the lower side, only a daily close back below 104.32 would signal bullish invalidation.
