The cross manages to hold the parallel support 1.1540.
The daily oscillator appears bottomed out will turn to bullish.
While holding 1.1535 we expect a near term bullish reaction to 1.1630 initially. A potential daily close above 1.1640 could extend the rebound phase to 1.1670 and 1.1700 it's 20MA.
Before retracing to 1.1540 the cross breach the ascending wedge pattern. The current near term bullish scenario is a part of the consolidation phase.
A move below the key support level could retrace further to 1.1390.
The daily oscillator appears bottomed out will turn to bullish.
While holding 1.1535 we expect a near term bullish reaction to 1.1630 initially. A potential daily close above 1.1640 could extend the rebound phase to 1.1670 and 1.1700 it's 20MA.
Before retracing to 1.1540 the cross breach the ascending wedge pattern. The current near term bullish scenario is a part of the consolidation phase.
A move below the key support level could retrace further to 1.1390.