failed to continue its bullish trend
, after it has reached 1.09909 last Thursday. The current trend is bearish
, with 1.06945 as an objective, and 1.07754 as a primary objective. The breakout of 1.08898 will reject the movement and send the parity back to around 1.09909, with 1.09377 as a primary objective.
The main danger of the current position is the convergence of the EMAs, as the EMA10 will soon cross the EMA20, which usually means that the trend is upward.
The daily Pivot Point
is around 1.08401. The daily support levels are around 1.07930 and 1.07491. The daily resistance levels are around 1.0884 and 1.09311.