The pair broke above the 1.4520 high, thus confirming additional gains towards the 1.5150 resistance in a medium-term. The key level to watch is now...
The pair broke above the 1.4520 high, thus confirming additional gains towards the 1.5150 resistance in a medium-term. The key level to watch is now 1.4500. Breaking and consolidating below would aim the pair for testing the nearest 1.4420 support, with a break below to extend declines towards the 50-Day SMA by 1.4040.
Edward Smith, technical analyst of company Admiral Markets.
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