Despite the current market uncertainty, the pair’s “buy on dips” status is still valid. The immediate support area lies at 1.3112/1.3060. Below here the market will proceed lower to 1.2900 and 1.2870 where the market is expected to see a floor.
On the other hand, an upward move is still our favorite scenario.
A weekly close above 1.3235/83 would accelerate the uptrend and send the pair higher to 1.3384 and 1.3550/1.3660.
On the other hand, an upward move is still our favorite scenario.
A weekly close above 1.3235/83 would accelerate the uptrend and send the pair higher to 1.3384 and 1.3550/1.3660.