The pair is trying to hold above the 80.00 level. Should it succeed, the medium-term upside rally will likely continue ahead of the 85.50 resistance. Meanwhile, daily studies are still strongly overbought, suggesting that corrective pullbacks should be expected from current levels back towards the 200-Day SMA by 78.00.
Edward Smith, technical analyst of company Admiral Markets.
At any use of the analytical material taken from a site of company Admiral Markets, and the secondary publication on any other resources, the rights to intellectual property for a dealing centre «Admiral Markets», the reference to a company site is obligatory.
