0.8684 (23.6% of 2015 low – 2016 high)
0.86 (zero figure)
0.8526 (session low)
Comments – Despite the oversold conditions on the , the potential for a recovery looks limited as the weekly 5-MA and 10-MA are heading for a crossover. Furthermore, the weekly suggests the momentum is about to gather pace. Consequently, upticks into 0.8750 (weekly 5-MA next week) could be met with fresh offers. On the downside, 0.8345 looks achievable in the short-run.