Despite Tuesday's sharp rally, it is too early to say the bird has bottomed out. This is because the descending trend line on the weekly chart is still intact.
Fresh bids are anticipated once the pair breaks above 1.2460. Such a move would confirm double bottom formation and open doors for a rally to 1.2775 levels.
Fresh bids are anticipated once the pair breaks above 1.2460. Such a move would confirm double bottom formation and open doors for a rally to 1.2775 levels.
