The pair is facing strong resistance at 50Wsma, unable to breach it. In yesterday's session, the pair again was sold off, took the support at 80.0 the fib level, covered most of its losses, and closed at 137.34. The pair managed to close above the descending inner trend line. Today, the pair is showing a strong pullback in Asia's session. The pair breached the 50Dsma and is facing resistance at the 61.8 levels. Bulls will have an upper hand, if the pair closes above 137.75 50Dsma. Today as of now, it is trading below that.
For an intraday view, the prices closed and are trading below the hourly moving averages at 35DEMA and 34hrsma levels. We can see strong and safe up move only above the 2-week descending trend line. If the pair manages to close above that, then it can extend its rally up to 138.80 and 139 levels.
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