As the day progressed, momentum continued higher. The pair broke above 1.4238, a level marked by swing lows from March 6 and March 26. The move extended toward the next cluster of resistance, defined by:
The broken 38.2% retracement,
The 100-day moving average near 1.4280.
What’s been learned?
Support: 1.4149
Buyers may lean against the current support zone, looking for a rebound above 1.4179 to attract fresh interest. On the other hand, sellers will want to break and hold below 1.4149.
The 50% midpoint of the September 2024 low move at 1.4108
The recent low at 1.40686
On the topside, the hope is a break above the 1.4179 leads to sellers turned buyers with 1.4238 the next target.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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