The cross lengthened its strong intraday retracement fall from the highs of two weeks, falling down to fresh sessions in the past hour eliminating all the gains of the prior month.
A continued weakness below 50 hours SMA was seen in the last hour as a major trigger in the last leg of the fall. The bears had a breathing time of about 100 hours SMA.
This support corresponds with 61.8% of the upward - moving Fibonacci level of this week (1.1326 - 1.1393) and should proceed to defend your flip side instantly.
A credible breakthrough of this convergence support could turn the vulnerable cross into weekly lows, the 1.1325 area, which will accelerate the slides.
Latest Forex News, Analysis & Market Moving Events:
Important Categories Of News Section:
Forex Indicators & EAs:
Free Forex eBooks:
Forex Brokers Reviews:
More Forex Indicators & EAs:
Forex Trading Strategies:
Cryptocurrency Live Charts: