The pair is trading in a range, limited by the 50-Day SMA at 1.3200 and the 100-Day SMA at 1.3110. Should the pair break and hold above the 50-Day SMA, it will confirm the uptrend towards the 1.3485 resistance or the 200-Day SMA by 1.3500. Meanwhile, breaking below the 100-Day SMA would allow testing the 1.3000 support, with a break and consolidation below to confirm the bearish bias and accelerate declines towards the 1.2625 low.
Edward Smith, technical analyst of company Admiral Markets.
At any use of the analytical material taken from a site of company Admiral Markets, and the secondary publication on any other resources, the rights to intellectual property for a dealing centre «Admiral Markets», the reference to a company site is obligatory.
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