Over the last 14 trading sessions, the price has failed to break above the 14.55 resistance level while we have also seen volatility expand, with the price making a 2-week low. A observation of the ‘money flow’ suggests that the selling pressure is slowly escalating, opening up the potential for lower levels on the pair (testing of 200-day at 14.08 is possible here) In addition, the incline support that has been in place since 01-February has been breached while a bearish 5/10 moving average cross have provided further support for a potential downward move.
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