â€œThe hourly chart shows price quite firm,â€ says Valeria Bednarik, Chief Analyst at Fxstreet.com, â€œalthough indicators are losing upward momentum, still in positive territory.â€ The analyst adds: â€œ100 SMA is now around 92.70, acting as resistance level: if price managed to overcome this last, further slides will turn more difficult. In the 4 hours chart indicators head higher from oversold readings, still far from giving clear continuation signals. Downside risk has moved far away, as only below 90.80 the pair may resume its bearish trend,â€ she concludes.
Support levels are seen by Valeria at: 92.00, 91.60 and 91.20, while resistance levels at: 92.70, 93.00 and 93.40.
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