he pair ascended above a multi-day trading range late last week after traders were able to push the pair above the 8973.45 level to the 9182.08 area, its strongest print in several days. Stops were elected above the 9117.19 level, a downside price objective related to the pair’s sell-off from the 10030 area that commenced on 24 February. This previous area of technical support became technical resistance, and the move above this area refocused traders on the 100-bar MA (4-hourly). The next upside levels related to the 10030 area include the 9291, 9465, and 9681 areas. Downside price objectives include the 7987.25, 7793.31, 7265.95, and 6613.45 levels.
Price activity is nearest the 50-bar MA (4-hourly) at 8812.91 and the 200-bar MA (Hourly) at 8825.30.
Technical Support is expected around 8062.04/ 7987.25/ 7793.31 with Stops expected below.
Technical Resistance is expected around 9121.40/ 9370.00/ 10534.04 with Stops expected above.
On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.
On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.
Price activity is nearest the 50-bar MA (4-hourly) at 8812.91 and the 200-bar MA (Hourly) at 8825.30.
Technical Support is expected around 8062.04/ 7987.25/ 7793.31 with Stops expected below.
Technical Resistance is expected around 9121.40/ 9370.00/ 10534.04 with Stops expected above.
On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.
On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.