The pair did not manage to hold above 84.00 and in a short-term could continue corrective declines towards the nearest 82.00 support. Breaking below this level would open a new downside extension towards the 80.00 support or lower ahead of the 78.00-78.80 support area, right where the 50-Day SMA, the 100-Day SMA and the 200-Day SMA reside. However, should the pair hold above 82.00, the upside rally will likely continue towards the 85.50 resistance.
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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