The descending trend line coming from Nay 2016 high and Aug 2016 is seen offering resistance around 1.0805.
A daily close above 1.0805 is necessary as that would add credence to the rebound from the rising trend line support and open doors for a sustained move higher to 1.10-1.11 levels.
On the downside, a break below 1.0709 would shift risk in favor of a re-test of the rising trend line support seen around 1.0630.
A daily close above 1.0805 is necessary as that would add credence to the rebound from the rising trend line support and open doors for a sustained move higher to 1.10-1.11 levels.
On the downside, a break below 1.0709 would shift risk in favor of a re-test of the rising trend line support seen around 1.0630.
