Initial resistance now sits at 98.50 (previous support on 1 hour chart), followed by 99.11 (the 9dma). Initial support sits at 97.83 (the 50dma on 1 hour chart), followed by 97.40 (previous resistance, now support on 1 hour chart). Both short term moving averages, as well as the RSI (14) remain in bearish set up on the daily chart which could continue fuel additional selling pressure.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.