The pair dropped below 80.00 and almost reached the 100-Day SMA by 79.50. Breaking below the 100-Day SMA would extend declines towards the 200-Day SMA by 78.30. Should the pair hold above the 100-Day SMA, we could see a rebound back towards the 50-Day SMA by 81.70. However, only a break and consolidation above the 50-Day SMA would confirm the uptrend towards the 84.00 level or higher ahead of 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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