Technical Analysis: Bias Bullish - Price has broken above 100-DMA, eyes 200-DMA - Momentum studies highly bullish - RSI shows strength at 67 levels with room to run further - +ve DMI dominance, ADX above 25 and rising in support of trend - On weekly charts, MACD is on verge of bullish crossover and Stochs have rolled over from oversold levels
Good to go long on dips around 0.7575/85, SL: 0.7530, TP: 0.76/ 0.7640/ 0.77
Comment
TP2 hit.
Comment
Upside in the pair has paused at 200-DMA resistance at 0.7646. Decisive breakout above will see further upside. On weekly charts, MACD now shows a bullish crossover on signal line and Stochs are biased higher. Breakout at 200-DMA will see test of 78.6% Fib at 0.7765. While rejection at 200-DMA will see weakness till 20-DMA.
Comment
All targets hit. The pair is consolidating 200-DMA break. Close above 200W SMA will see further upside.
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