This pair has been falling like a ton of bricks the whole of last week. I have a feeling this could change now, because:
- the area around 7.1800 has been a solid S/R zone for this entire year.
- The 200 dma is nearby too and could act as dynamic support.
However, I do need to see some evidence of bullish strength before I commit to a trade. For this is I will be...
I'm pretty strong believer that we are going to see a third touch on the upper trend line. It does feel like it has found support already on the 55MA and 10EMA, but be aware it might go down and touch the bottom support, before going up.
