Support Holds for Bounce Higher

Price action in this market has now bounced higher from the daily chart support level we recently discussed.

As the daily chart shows; price is now moving into the daily resistance level.

Any ‘USD’ markets need to be treated with caution this week and that is no different with this market.

From a price action point of view this level looks key for the overall trend higher, however; from a risk point of view it could be best to watch this play out over the next few sessions.