• The cross has failed to sustain above 200-hour SMA and now seems to have formed a bearish Head & Shoulders chart pattern on the 1-hourly chart.
• Short-term technical indicators have struggled to move back in positive territory and further reinforce the bearish chart pattern formation.
• A sustained break below the neckline support would be needed to confirm a fresh breakdown and a resumption of the prior depreciating move.
Current Price: 145.03
Daily High: 145.66
Daily Low: 144.81
R1: 145.20 (horizontal level)
R2: 145.68 (200-period SMA H1)
R3: 145.97 (R1 daily pivot-point)
S1: 144.70 (bearish H&S neckline)
S2: 144.39 (June 19 swing low)
S3: 144.00 (round figure mark)
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 assets. 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 Open Markets 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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.