Though the recovery from ysday’s low of 1.0640 to 1.0709 suggests temporary loss of momentum, bulls are advised to remain on the sidelines as the daily MACD has turned bearish with the RSI looking to dip below 50.00.
The retreat from 1.0709 to 1.0680 adds credence to the bearish indicators and indicates scope for drop to 1.0620 (Jan 30 low).