Pair's bullish daily close on Wednesday above the September high of 104.32 has opened doors for a rally to 105.00/105.50 levels in the short-term.
The daily RSI is above 50.00 and well short of overbought territory, which suggests potential for a further upside move. Rebound from the 5-DMA support in Asia further adds credence to the bullish view.
On the lower side, only a daily close back below 104.32 would signal bullish invalidation.
The daily RSI is above 50.00 and well short of overbought territory, which suggests potential for a further upside move. Rebound from the 5-DMA support in Asia further adds credence to the bullish view.
On the lower side, only a daily close back below 104.32 would signal bullish invalidation.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.