Technical Reports

Trading condition of the cross is neutral. The consolidation from 1.1445 is resuming. If the entire 1.1639 resistance is present, prognosis stay bearish and larger fall is favored. Following pivot points include: (S1) 1.1509; (P) 1.1534; (R1) 1.1574.

Breach of 1.1445 will extend the corrective drop from 1.1832 and align the cluster support of 1.1355. Sustained support from that area will restrain downside and cause recoil.

According to bearish divergence in daily MACD, a medium term top should be formed at 1.1832. Long term reversal hasn’t been confirmed yet. If resistance turned support of 1.1198 stands, further increase should surpass 1.2000 SNB imposed floor.