is tracing out what appears to be the finishing stages of a downward move. Downward momentum appears to be finishing and our bias is largely bullish
for the pair. However current downward move could still stretch to as low as 0.70191/0.70137 cluster zone. At this zone we expect to see strong buy orders enter the market if not before.
However, the bullish
case shall be completely enforced if downward sloping blue dotted trend line
as shown is penetrated at daily close. On daily close above downward trending blue dotted line, next target will open up in the 0.76690/0.76031 resistance zone