Slobodan Drvenica
Windsor Brokers
The cross accelerated higher on Monday and probes through key barrier at 0.8932 (11 June high, the highest since mid-Jan), signaling an end of shallow 0.8932/0.8871 correction, which was contained by rising 10SMA.
Bulls enter seventh straight week of being firmly in play that additionally underpins the action.
Fresh bullish momentum and daily MA remaining in firm bullish configuration, add to the outlook.
Bulls look for close above 0.8932 to attack next pivotal barrier at 0.8962 (Fibo 76.4% of 0.9113/0.8471) that would expose psychological 0.90 barrier.
Overbought RSI requires caution, though, no firmer signal seen for now.
Bullish bias to remain intact while the price holds above rising 10SMA (0.8892).
Res: 0.8962; 0.9000; 0.9061; 0.9087
Sup: 0.8919; 0.8892; 0.8868; 0.8857
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
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