The high for the day reached 1.3440, just shy of the April swing high at 1.3441 (and prior high for the year). Yesterday, the pair extended above the April 2025 high, reaching 1.34695, but today’s inability to push through the prior peak may have encouraged sellers to lean against the resistance, hoping for a momentum shift.
In short, while there is technical resistance near 1.3441, sellers still have work to do on the downside. A sustained move below the 100-hour MA would be needed to shift the bias more convincingly in their favor.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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