Failure to breach the descending trend line would add credence to Friday’s rejection at 50-DMA and inverted bearish hammer formation and open doors for a revisit to 1.05. A violation there could yield a sell-off to January low of 1.0341.
On the higher side, only a daily close above 1.0677 (Feb 17 high) would signal bearish invalidation.
On the higher side, only a daily close above 1.0677 (Feb 17 high) would signal bearish invalidation.
