Earlier today, price surged above the 200-day MA, a key bullish signal.
The pair is now in the process of retesting the 200-day MA from above — a critical zone to determine whether buyers can maintain control.
A move back below the 200-day MA would be a setback and could shift momentum back to sellers
Support: 0.5888 (200-day MA), 0.5852 High from 2-weeks ago. 0.5824 (broken 38.2% retracement of the move down from September 2024
Resistance: 0.5930 (50% retracement), 0.5970 to 0.5983 (swing area going back in time) 0.6000 (natural resistance)
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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