Price on the daily has failed to break the 50EMA and the ascending trend line. I anticipate a move to the upsode to 1.5500 where we should see some sellers step back in at the psychological round number and previous support turned resistance. I still believe long term we are bearish on this pair but in the short term we will see this push up. If price breaks 1.550 and this level becomes support my bias will change to bullish and look for further long positions depending on price action.
