The sustained trading below the 100-day simple moving average (SMA) highlights chances of the pair’s further decline towards 110.30 and 109.70 support levels with 109.00 and 108.50 being follow-on numbers to watch in a case of additional south-run.
On the upside, 111.00 may limit the quote’s near-term advances, a break of which could recall 111.30 and 200-day SMA level of 111.55 on the chart.
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On the upside, 111.00 may limit the quote’s near-term advances, a break of which could recall 111.30 and 200-day SMA level of 111.55 on the chart.
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