Awaiting further downward movement. This can reach sub 1.37.
- We have reached resistance at 1.4140;
- RSI now at the other side of the spectrum (i.e. overbought);
- RSI showing a hidden bearish divergence on 4H and Daily;
I'm expecting reversal back down next week, with maybe some hesitation at 1.4070.
Price just broke through the 1.4 level. We should start seeing newer lows and reach 1.39 and later 1.3730.
If that level breaks we could very well reach 1.36 and lower.
This pair could very well retest low of 1.26 which was reached when Swiss let go of dollar (I believe it was?).