The pair hit the 0.7139 area last Friday, resting at that level. Today, the dollar didn't lose any time and closed the gapthat was open since November 29th. We can see from the daily candles that the pair is building lower highs, creating a short trend that will take the pair to lose the November's low at 0.7037. This area coincides with the fibo 23.6, which makes it an area of large upwards rebound. The price could also try to get Friday's support back.
Join the Discussion