At the moment, we observe that the pair is updating the annual lows against the backdrop of a stronger reserve currency and the pair has overcome the previously formed support level.
Our technical indicators point to sales and the MACD shows a strong divergence between the MA’s, which may indicate a strong downward momentum. The next psychological level for traders will be the mark of 1.12, which should be the next level of support for our pair.
Therefore, we advise you to look for points for entering short positions and consider your goals at the 1.12 and 1.1160 levels.
Our technical indicators point to sales and the MACD shows a strong divergence between the MA’s, which may indicate a strong downward momentum. The next psychological level for traders will be the mark of 1.12, which should be the next level of support for our pair.
Therefore, we advise you to look for points for entering short positions and consider your goals at the 1.12 and 1.1160 levels.