Pair's failure to retake the rising trend line last week, followed by a break below 100-DMA today has opened doors for test of falling channel floor seen today around 138.20.
Note - the 100-DMA is still sloping higher, hence a break below 138.20 appears unlikely. Moreover, a move back above the 100-DMA would suggest bearish invalidation.
Note - the 100-DMA is still sloping higher, hence a break below 138.20 appears unlikely. Moreover, a move back above the 100-DMA would suggest bearish invalidation.
