There are no changes in a short-term structure. The pair continues recovering towards the 1.0750 resistance. Breaking this level would expose additional gains towards the 1.1080 high. However, daily studies are close to overbought conditions, suggesting that a bearish reversal could take place from 1.0750, which would aim the pair for testing the 200-Day SMA by 1.0410.
Edward Smith, technical analyst of company Admiral Markets.
At any use of the analytical material taken from a site of company Admiral Markets, and the secondary publication on any other resources, the rights to intellectual property for a dealing centre «Admiral Markets», the reference to a company site is obligatory.
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