) is very weak fundamentally and there's absolutely no reason to be selling this currency which is the reason why we've got this nice on going uptrend against the U.S dollar. Price pulled back to previous resistance turned support. It bounced off this level forming a morning star
which is also in confluence with the 50 SMA
and a physiological round number (8.40000). I expect this retracement to to be over and the long term uptrend to continue. Target at swing high which is also at a physiological number (8.80000). if we manage to break that level then the uptrends pace could potentially pick up even more.