The pair plunged from the top with a great momentum.
Now, it has hit the brick wall which has been its long-term support zone.
And as expected, it has bounced back sharply too and in the due process it has broken the bearish trendline.
Hence, a profit booking rally seems imminent. So, traders can buy on the short-term pullback (dips) and expect a rally to the resistances at 0.89882 and 0.90297.
Now, it has hit the brick wall which has been its long-term support zone.
And as expected, it has bounced back sharply too and in the due process it has broken the bearish trendline.
Hence, a profit booking rally seems imminent. So, traders can buy on the short-term pullback (dips) and expect a rally to the resistances at 0.89882 and 0.90297.