The pair blasted through the 6.6 handle and the 6.6500 resistance following the vote, and have since traded between the 6.7 handle as resistance and the 6.5000 level on what appears to be “resistance turned support” basis. The fact that the pair has managed to find support at 6.6500 in the context of an uptrend might imply focus will be out on the 6.7 figure, while the next resistance level may be found around the January high at the 6.7584 level. A move below 6.6500 may put ...
After finding support at 6.5500 the pair moved higher to test the 6.6000, but has yet to manage a clear break and a hold above on a daily close basis. The pair has failed to hold above the level for two consecutive days since February. It seems that the pair might need to “make a decision” around the 6.5880 short term support level. If the pair manages to hold above the level, buyers could potentially attempt another move higher to break the 6.6000 handle. If price ...
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