Pair’s smart rebound from 102.82 (Oct 10 low) followed by a rise to 103.80 area suggests the rising trend from the low of 100.08 (Sep 22 low) remains intact, although next leg higher is seen only if prices see a day end close above 104.32 (Sept high) in which case resistance at 106.00-106.50 could be put to test.
On the lower side, only a daily close below 102.82 (weekly low) would suggest bullish invalidation.
On the lower side, only a daily close below 102.82 (weekly low) would suggest bullish invalidation.
