Bulls overcame 161.40 for several hours during US Session and made price close near highs. They easily took out the day 2 high as well. We could be seeing a short-term turn to the upside. However, resistance remain at 163.30. This could probably the most that the bulls can carry through.
Corrective price action has begun in today's Asian Session.
Bullish traders may way for key levels in the fib. 161.00, 160.50, 160.00 and 159.60. Best to wait for compression before getting into it. If bulls take out 161.85, we should see 162.70 to 163.30 before nosediving anew.
Corrective price action has begun in today's Asian Session.
Bullish traders may way for key levels in the fib. 161.00, 160.50, 160.00 and 159.60. Best to wait for compression before getting into it. If bulls take out 161.85, we should see 162.70 to 163.30 before nosediving anew.