The major support on this pair is so far holding and propping up prices.
This level has been important as a support and resistance level all year in this market.
With price making a rotation higher it is now moving back into the near term price flip resistance.
If this level holds as a resistance we could expect a further attempt to breakout lower and through the support level.
This near term resistance presents as a potential area to be watching for short trades in the coming sessions.
We could watch for high probability bearish triggers on the intraday time frames such as the 4 hour charts and below.
This level has been important as a support and resistance level all year in this market.
With price making a rotation higher it is now moving back into the near term price flip resistance.
If this level holds as a resistance we could expect a further attempt to breakout lower and through the support level.
This near term resistance presents as a potential area to be watching for short trades in the coming sessions.
We could watch for high probability bearish triggers on the intraday time frames such as the 4 hour charts and below.
