- The 50-hour and 200-hour moving average crossover indicates the path of least resistance is on the downside.
- The bearish intraday MA studies add credence to the argument the corrective rally ended at 0.6859 and the pair is heading back to the recent low of 0.6688.
Spot Rate: 0.6780
Daily High: 0.6787
Daily Low: 0.6764
R1: 0.6784 (10-day moving average)
R2: 0.6859 (July 9 high)
R3: 0.6906 (50-day moving average)
S1: 0.6748 (previous day's low)
S2: 0.6688 (July 3 low)
S3: 0.6518 (76.4% Fib R of 2015 low - 2017 high)
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