Taking this pair back to the monthly & weekly, you can see price was in a consolidation for a couple years being range bound. We got a breakout of a key level but a retest never occurred after its strong bullish move. I believe this pair will come back to retest the 1.14500 region before pushing higher. This key level will be extremely hard to break though now that we are in an uptrend making higher highs & higher lows. Hope this was of help to you ! :)
Commentaire:
short the break.. Price rejecting resistance level. A break above & a deeper retracement is likely