The pair touched the weekly support trend line. In the last week's session the pair hit the 1.3575 level which turns out to be heavy resistance and hit the 1.35 levels as well. But at the end of the day on Friday, it closed above 1.35 levels. This week, the first trading day in Asia's session the pair is trading at 1.3530 levels.
Positive flicks-
The pair is trading above 1.35.
The daily RSI is indicating positive divergence.
Negative flicks-
Trading below the 20 DSma, 50 DSma, 50 WSma, 100DSma, and 200 DEma.
The nearest resistance is at 1.3575.
The pair is supported by buying interest below 1.35 levels. It has the nearest support level at 1.3477, below this, 1.3425 (200 WEma) and 1.34 (50 MSma). The current week's trading pattern is framed between 1.3477-1.3575 levels.
Until the pair trades below 1.3575, the weekly view favors the negative side.
Until the pair trades below 1.37, the short-term trend will move more down side towards 1.3420 and 1.32 levels.
The material has been provided by InstaForex Company - www.instaforex.com
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