The pair has been consolidating around the 1.1320-1.1350 area the past week , we can expect it to rise test the 1.1320 area again this week if it fails to break through door could open for highs such as 1.14.
The downward potential is covered by significant resistance around the 1.13 are and the big sell that the pair faced the past week with bears been exhausted the door for the bulls is open .
But it all depend on the DXY movement next week as it has been highly correlated with pair the past trading sessions.
The downward potential is covered by significant resistance around the 1.13 are and the big sell that the pair faced the past week with bears been exhausted the door for the bulls is open .
But it all depend on the DXY movement next week as it has been highly correlated with pair the past trading sessions.