- Price gave strong rejection to 1.60004 resistance line, pair not yet overbought
- Pair may be on an overall downtrend with a brief retracement at the 0.382 fib level
- Tentative trendlines drawn in broken red, watch how price reacts to them
- Pair may be on an overall downtrend with a brief retracement at the 0.382 fib level
- Tentative trendlines drawn in broken red, watch how price reacts to them
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4-hr chart
- Price is approaching EMA (25, close) from the downside