Key Resistance Coming Into Play
Since March of this year this pair has been in a roaring trend higher.
However, in recent weeks price has been attempting to make a reversal with a 1,2,3 pattern on the daily chart.
The level price is now pushing back into looks crucial for this pair.
For any potential reversal lower this level will need to hold as a price flip resistance.
If we can see that price action play out, then we can look for a move back into the recent support with a potentially bigger leg to come.
However, in recent weeks price has been attempting to make a reversal with a 1,2,3 pattern on the daily chart.
The level price is now pushing back into looks crucial for this pair.
For any potential reversal lower this level will need to hold as a price flip resistance.
If we can see that price action play out, then we can look for a move back into the recent support with a potentially bigger leg to come.
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