Pair remains strongly bullish despite overbought, with no signs of changing intraday bias for now. Above today’s high of 1.5095, we could expect more upside acceleration, and the pair approaching to the 1.5150 area, 76.4% of the monthly fall from 1.6038 to 1.2330. Over bought conditions at that level should be extreme, offering some counter trend retreat to the 1.5100 area.
Failure to extend the rally, and break under 1.5060 previous yearly high now first support for the pair, show trigger some downside corrective movement with immediate support at the 1.5000/20 area.
Failure to extend the rally, and break under 1.5060 previous yearly high now first support for the pair, show trigger some downside corrective movement with immediate support at the 1.5000/20 area.
