The retreat from 1.0825 to 1.0760 indicates the bulls are taking a breather following Tuesday's sharp rally from the low of 1.0719 to 1.0819. The outlook stays bullish as long as the short-term moving averages - 5-DMA and 10-DMA are sloping upwards.
Fresh bids are likely around 10-DMA, although only a daily close above 1.0830 would signal continuation of the rally from the low of 1.0341
Fresh bids are likely around 10-DMA, although only a daily close above 1.0830 would signal continuation of the rally from the low of 1.0341
