Support – 1.4413, 1.4387, 1.4354
Formation - Sideways action continues
- Pair clocked a low of 1.4423 in Asia before recovering slightly to trade around 1.4438 levels.
- Pair’s recovery from daily lows or a possible dip to 1.4413 (38.2% of 1.3835-1.4770) followed by a recovery above daily 5-SMA at 1.4435 could translate into a quick fire move to 1.4480 (daily 10-SMA). Further upside could run out of steam near 1.4530-1.4549.