The weekly chart shows that it remains above directionless 100 and 200 SMAs, although below a firmly bearish 20 SMA. At the same time, technical indicators consolidate within negative levels, suggesting that long-term buyers remain side-lined.
The daily chart offers a mildly bullish stance, as the pair stands above a flat 20 SMA while the longer ones maintain their bearish slopes above the current level. Meanwhile, technical indicators lose bullish strength within positive levels, still far from suggesting an interim top.
Beyond 0.7360, the advance could extend toward 0.7410 first and the 0.7480 price zone later. Such a strong rally, however, seems unlikely. Bears will likely retake control once the pair falls below 0.7250, eyeing then a slide toward the year low at 0.7105.
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تم التحرير 10 Oct 2021, 19:54
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