Ayman Nadir
New Member
From a technical perspective, the 1.2420 region might continue to act as an immediate resistance, above which a bout of short-covering has the potential to lift the pair further towards the key 1.2500 psychological mark. Some follow-through buying should assist the pair to make a fresh attempt towards reclaiming the 1.2600 round-figure mark. The momentum could further get extended back towards challenging 200-day SMA, around the 1.2640-45 region. A convincing break through will now be seen as a fresh trigger for bullish traders and set the stage for a further near-term appreciating move.
