Fxstreet.com (Buenos Aires) - Not much change from previous update, pair failed early in the American session to break above the descendant channel coming from 99.45 high in the hourly. Now about to confirm above it, the 99.00 static resistance zone, is next point to beat to see the pair gain the upside, with 99.60 tough level, the last milestone before the 100.00 level.
Failure to close above 98.68, will keep the pair inside the descendant channel. Indicators in the hourly chart point for further gains, same situation than longer time frames, said Valeria Bednarik, collaborator at FXstreet.com.
For more information, read our latest forex news.