Weekly Round Up – February 21st, 2021

AUD/USD broke its long standing and much written line at 0.7821 and traded 57 pips to 0.7877. Above 0.7821, AUD/USD ranges between 0.7821 to the 10 year average at 0.8305 or 484 pips. Below 0.7821, AUD/USD trades 0.7821 to 0.7308 or 513 pips. Below 0.7821 exists 0.7605.

DXY last week maintained its 148 pip range between 89.95 to 91.43. Above 91.43 next targets 92.78 in a 135 pip range.

GBP as written in the last post maintains deep overbought status across all GBP pairs except GBP/NZD. Watch 1.9136 this week for best moves.

EUR/USD opens in fairly perfect neutrality however ranges continue to compress. Problem pair EUR/JPY and all JPY cross pairs maintain deeply overbought status for week 4. EUR/CAD, EUR/NZD and EUR/AUD open the week massive oversold. EUR/CAD and EUR/AUD will provide the best moves.

Stand clear EUR/CHF as AUD/CHF and NZD/CHF will provide better movements.

NZD/USD 0.7267 then 0.7356 Vs 0.7267 and 0.7990. NZD/CAD is overbought while NZD/JPY heading into week 4 maintains richter scale overbought status.

Overall, NZD/USD traded 200 pips from 0.7100’s to 0.7300’s for the past 2 months and provided support to GBP and AUD to allow both to move higher. Explains the divergence seen in EUR/NZD Vs GBP/NZD this week.

USD/JPY watch 104.97 and USD/CAD 1.2587 Vs 1.2826.

 

 

Indices in Europe Start This Week With a Correction

American Indices continue the buying fiesta.

European indices, on the other hand, undergo a bearish correction.

Gold tries to create a right shoulder of the inverse head and shoulders formation.

EURUSD pair continue the correction inside a flag formation.

GBPUSD pair drop below 1.37 again.

AUDCHF with a triple top formation but so far without a proper sell signal.

GBPJPY bounces from the 142.2 again.

For a look at all of today’s economic events, check out our economic calendar.

Indices Try to Catch a Breath. Great Session for USD

Almost all indices collapse and aim for long-term lows.

SP500 is testing the 23,6% Fibonacci.

DAX is very close to reach the 38,2% Fibonacci.

FTSE breaks the lower line of the wedge formation.

CAC reaches crucial support from the first half of the year.

EURUSD breaks the lower line of the flag formation.

EURAUD eventually bounces from the upper line of the sideways trend.

EURGBP in a flag but with inclinations for an upswing.

AUDCHF goes lower after the bounce from a crucial resistance.

WTI Oil breaks the lower line of the symmetric triangle.

Gold goes lower after the escape from the mid-term pennant.

USDPLN breaks the neckline of the inverse Head & Shoulders pattern, it looks bullish.

For a look at all of today’s economic events, check out our economic calendar.

Stock Traders Lick the Wounds Ahead of the NFP Data

DAX drops like a rock but stops on the major up trendline, where the price tries to initiate a reversal

CAC creates a false breakout pattern from the symmetric triangle

Nasdaq and SP500 tumble but are still above all major supports

Brent in the negative territory after escaping from the wedge pattern

Gold tries to defend major long-term up trendline

Dollar Index tries to create a triple bottom formation

USDCAD below major resistance, waiting for crucial job data

AUDCHF and AUDNZD test important horizontal support

EURPLN finally escapes from the sideways trend and breaks major long-term down trendline

Is There A Strategy To Make 20 PIPs Per Day?

As far as strategies goes, there’s so many different strategies out there, in terms of exit, and, entries and exits, in terms of a technical strategy.

The way that we find gives us the highest probability opportunity to make pips from the market, every day, is just by following the daily sentiment. Now, whether that’ll give you five pips for that day, whether it’ll give you 10 pips, 20 pips, 100 pips, it really does depend on the type of sentiment. It really does depend on the type of trade that you take. Also, the underlying volatility of the market.

So, looking at something like the Aussie-Yen. Normally, in a day trade, like the Aussie-Yen, due to much lower volatility ranges, we would expect to make anything, from, or would be happy to make anything, from, let’s say 10 to 30 pips, on a normal, standard day trade like this one, today.

But, because we’ve seen all those massive moves in the market, traded recently, due to the, basically, the run up to the recession, and those big moves we saw in equities, if we just look at this range for today, we can see, it’s almost a 60 per branch to the downside, which is quite a lot for just a standard day trade.

So, it really does depend on quite a couple of factors.

There isn’t a strategy, especially technically speaking, that can guarantee you any type of, you know, set pip range per day. 10, 20, 30 pips, etc. A trader out there that tells you, you know, you will make 10 pips, every single day by trading this strategy, you know, I would be, I would be very confident in saying that they are not being honest.

If they are trying to sell something like that, a strategy that gives you 20 pips, every single day, every single market environment, timeframe, etc, isn’t being honest.

For us, the highest probability of looking at, basically, taking pips from the market, every day, is making sure that you’re staying on the right sentiment, the fresh sentiment, every single day.

Whether it is trading the Aussie-Yen, like, in an example, for today, in terms of risk of trading, whether we are trading, you know, any other sentiment-type of shift.

Whatever the market is focused on today, whatever is driving the markets today, we prefer to focus on those things, as we think that provides you with a much higher probability of staying on the right side of the market, and ensuring that you extract pips from the market on a daily basis.

Now, that is important, also, because, there might be some days where there just isn’t any high probability sentiment driving currency prices. Now, on those days, the very best of traders are the ones that are gonna be patient, and know that this isn’t an environment to trade in. I’m rather gonna sit out, and wait for a clear catalyst, a clear short-term driver, to, for the next highest probability move.

In days where there’s just nothing driving the markets, on those days, it’s better to stay out, because you might trade something, and you’ll just get a range-bound market, or you’ll be whipped around, in terms of price action. So, there might be some days where you get nothing.

There might be other days where there are ample trading opportunities.

On a day like today, there’s quite a couple, not only looking at the Aussie-Yen, you could’ve considered the Aussie-Swiss, the Kiwi-Yen, Kiwi-Swiss, CAD-Yen, Kiwi-Swiss, a CAD-Swiss, I mean.

So, there’s a couple of opportunities when we have strong sentiment driving the markets, but nothing that will guarantee you a set amount of pips, every single day, in every market environment. So, I hope that helps you out there, Bobby.

For a look at all of today’s economic events, check out our economic calendar.

This article was written by Arno Venter, ForexSource.

Swiss Franc Tries To Recover

New week starts with the strengthening of the Swiss Franc but the whole February is so far pretty bad for this currency. CHF is currently on the bearish territory on almost all pairs, with the further negative outlook on the future.

Let’s look at the USDCHF first. Here, we do have a very handsome inverse head and shoulders pattern. Formation is already active, as the price broke the neckline of this formation and also already tested that line as a closest support. As long as we stay above the orange area, the sentiment is positive.

On AUDCHF, we also have an inverse head and shoulders pattern. Neckline and the mid-term down trendline were already broken. The only obstacle left is the horizontal resistance around 0.661. Price breaking that resistance, will confirm a strong bullish sentiment here.

Now let’s look at the whole Swiss Franc index. Most recent weakness should not be a surprise as the index broke the mid-term up trendline. Current rise should also not be a surprise as the CHFX met crucial, mid-term horizontal support. As long as we stay above, CHF has a potential to develop this bullish bounce but the major long-term sentiment is still negative.

AUD/CHF Is Still Bearish As The Price Is Capped Below 0.6590

Dear Traders,

The AUD/CHF got the overbought signal while in downtrend. We might expect a further drop in the AUD currency.

The pair is having a retracement within thr 0.6545-60 zone. Sellers might take control again on the bearish candlestick pattern. A rejection off the zone should target 0.6520 and 0.6490. If the price goes below 0.6490 then bearish continuation towards 0.6439 is possible. The scenario is valid as long sa the price is below 0.6590. Have in mind that the AUD/CHF market is slower as it shows only 55 pips of the ATR(5) and it might take a while for the price move to develop.

The Analysis has been done with the CAMMACD.Core and Sit Systems

 

USD Is Not Willing To Take A Break

One of those can be find on the Dollar Index – DXY. Bullish setup here is really handsome. It all starts with the inverse head and shoulders on the daily chart. Upswing from the last Friday, allowed the price to break the neckline of this formation, along with the major down trendline. Yesterday’s candle is a beautiful hammer and shows us a successful test of those resistances as closest supports. Chances for a further rise are quite significant.

Stronger USD, usually means weaker Gold. Its not different this time too. Gold is still correcting the upswing that happened after the death of the Iran General. Most recent technical development is a breakout of the lower line of the small flag formation, which shows us, that most probably, the downswing will be continued.

The last instrument is a bit exotic but recently, super technical. On the AUDCHF we can spot three nice technical patterns in a row. First one is a giant symmetric triangle, second one is a medium flag and the third one is a tiny pennant. All those patterns ended with a bearish breakout and a drop. As long as we stay below the 0.669, the sentiment is negative.

This article is written by Tomasz Wisniewski, Director of Research and Education at Axiory

Swiss Franc is Showing, How it Suppose to be Done

We will start with a small update about the USDCHF, which we were talking about few days ago. Back then, we pointed at the flag pattern and the price bouncing from the crucial resistances. We were bearish. USDCHF did not disappoint us and easily broke the lower line of the flag aiming south. Yesterday’s breakout triggers us a legitimate sell signal.

Next one is the AUDCHF, which also was on our radar in one of our previous analysis. Here, there was no surprise as well. The price tested crucial resistances and after drawing a flag, went lower. The sentiment is negative and the AUDCHF is aiming the lows from the August 2019.

Last one is the EURCHF, where we have a similar setup, so a breakout of the lower line of the flag and a sharp drop. We are also mentioning this instrument to show You the power of the technical analysis. The price patterns in particular. The whole drop started with the head and shoulders pattern and the breakout of its neckline. Then, we had a rectangle and the breakout of its lower line. Then a flag mentioned above. Real beauty and I wish You to find more handsome setups like that in the future!

Three Great Setups With Weaker AUD and Stronger NZD

It can be nicely seen on our first instrument: AUDCHF, where the price is drawing a beautiful hammer on the daily chart. This long tail, shows us a rapid strengthening of the CHF, followed by a fast reversal. In overall, the situation is negative. Few days ago, AUDCHF broke the lower line of the symmetric triangle pattern along with the horizontal support on the 0.669. Price closing below the orange support gave us a significant sell signal. Today’s hammer is really not changing much here.

I will continue with the AUD and show You an interesting setup on the AUDNZD. Here, yesterday, the sharp drop gave us a long-term sell signal. The pair broker the lower line of the descending triangle pattern and the lower line of a channel up formation. According to the all books about the technical analysis – that is a very negative situation promoting a further drop.

Two above setups show us a weakness of the AUD and the latest – additional strength of the NZD. Kiwi’s power can be confirmed by the situation on the EURNZD, where we do have a very handsome reversal. I must admit that this setup is really classic. We do have a bullish correction, ending on the down trendline, 23,6% Fibo and the horizontal support on the 1.68. In addition to that, the price draws a long head. Really it rarely gets much better than this. The pair is dropping quite significantly and there are big chances that we are going to witness new mid-term lows soon.

This article is written by Tomasz Wisniewski, Director of Research and Education at Axiory

Lower Inflation Drags the AUD Down

In my opinion, the best occasion from the pairs with the AUD or NZD, can be spotted on the AUDCHF, were we do have a false breakout pattern above the crucial long-term resistance.

AUDCHF was climbing higher since the very end of March after the price bounced from the horizontal support on the 0.703. In addition to that, the price broke the upper line of the wedge, which gave boost to this upswing. Natural target for the rise was the red line connecting long-term lower highs. Quite surprisingly, the price broke that resistance but now we see that it was only a false breakout and thanks to that data, the price is already back below the red line. False breakouts are usually very strong signals so I would not be surprised if the price reached 0.703 again.

Now Bitcoin, were the bullish scenario is still on the table. Most recently, BTC broke the upper line of the ascending triangle, which gave us another buy signal. Today, the price is declining to test the broken resistance as a closest support. That is a typical movement in Price Action. Bounce from the yellow line will open us a way towards the 6000 USD.

Last instrument is the GBPUSD, where the price is declining, driven mostly by the bearish breakout from the symmetric triangle pattern. After that, Cable managed to break the horizontal support on the 1.298 and that price action is currently responsible for the legitimate sell signal that we are witnessing at the moment.

This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis

3 Proper Buy Signals!

USD started this week on the back foot. This is explained in many ways. Some of them are funny like the one that EUR is gaining because of the fears of the EU-US trade wars (Airbus). What? Sometimes you read those headlines and you just cannot believe in those explanations. Anyway, here are three best trading occasions on the market right now:

EURUSD made a head and shoulders pattern. On Monday, the price broke the neckline of this formation and today, we defended this line as a closest support. In theory, that promotes a buy signal. The closest target is on the 38,2% Fibo. Chances that we will get there are pretty high.

Next one is Gold, where the price is continuing the upswing started with the hammer on the neckline. We saw this hammer, we knew it increases the chances for an upswing and we traded that. The price is going up and with that defense of the neckline, chances for a further rise are higher.

Last one is the AUDCHF, which managed to defend the long-term horizontal support. With that defense, the price started to make higher lows and highs, which can be perceived as a start of a new uptrend. Today, we are on the highest levels since the middle of March and we have a great opportunity to reach the tops from the beginning of February.

This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis

AUD/CHF Bullish Head and Shoulders Might Lead the Pair to W H4 Resistance

Dear Traders,

The AUD/CHF has formed a bullish SHS pattern  and it looks like momentum is strongly bullish.

0.7100 zone might provide a bounce if 0.7080 holds. We can easily see an inverted SHS pattern at the support, exactly at W L4 coupled with an ascending trendline. T-89 pattern suggests bullish continuation towards 0.7130 and 0.7145-53. Only if the pair breaks below 0.7075 we might see a deeper pullback into the neutral territory. So far, intra day charts are bought on dips, so look for a continuation of the bullish move.

The analysis has been done with the CAMMACD.MTF template.

For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

Two Different Signals for the AUD

Today’s setups are a bit weird. How is that possible? Well, it means that second currencies in the pairs are the main drivers of those movements. Let’s see.

We will start with the AUDCHF, where the situation is bearish and the price broke major supports. First of all, AUDCHF broke the lower line of the symmetric triangle pattern. What is more, in the same time, we broke the horizontal support slightly below 0.71. Currently we do have a typical pullback but as long as we stay below those two resistances, the sentiment remains negative.

Second pair is the AUDJPY, where we do have a buy signal. It comes from the fact, that the pair broke the upper line of the wedge pattern and bounced from the upper line of the ascending triangle pattern. The movement towards the horizontal resistance on the 79.8 is very probable.

That brings us to the third instrument. From the above, we can assume that the CHFJPY should be very strong…and it is! The price is in the nice up trend after breaking the upper line of the triangle. Yesterday, CHFJPY broke two major resistances, horizontal and dynamic one. With this, it seems that the sky is the limit.

This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis

AUD/CHF 0.7150-60 Zone Could Initiate New Buyers

Hi traders,

The AUD/CHF has been in a bullish consolidation that is characterized by an ascending trend line and bullish consolidation. The price might reject from the POC zone.

0.7150-60 is the zone where the price might reject. T-89 pattern and HTF BB suggest that the move might start soon. Targets are 0.7185 and 0.7210. Keep in mind that the ATR (14) is 56 pips so it might take some session time for the price to reach the target. If 0.7125 stays unbroken we might see some more volatility in the pair during the US and Tokyo session. Watch for above-mentioned levels and protect your profits as usual.

The analysis has been done with the CAMMACD.MTF template.

Join Elite CurrenSea’s Forex and CFD seminar in Prague on March 9th.

For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

AUD/CHF Bulls are Eyeing 0.7255 Zone

Hi traders,

The AUD/CHF has been consolidating in a tight range that is reflected by the ATR(5) of only 55 pips. Low volatility and slow movement has been the trademark of most AUD pairs where the AUD is the base currency.

Tight consolidation should be broken and the price should me moving up only if the higher TF momentum is carried over to H1. At this point, we see that the AUD/CHF is rejecting the POC and if the pair stays above 0.7168, bulls will be dominating. 0.7185 is also important from the intraday perspective as it marks a strong confluence support for bulls. Targets for the bounce are 0.7246 and 0.7257.

AUDCHF

The analysis has been done with the CAMMACD.MTF template.

Join Elite CurrenSea’s Forex and CFD seminar in Prague on March 9th.

For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

Technical Overview USD, EUR, AUD & CAD: 24.01.2019

USD/CHF

USDCHF’s pullback from 0.9935 can’t be considered as a sign of its strength unless the pair clears 1.0005-10 horizontal-region on a daily closing basis, which in-turn highlights the importance of 50-day SMA level of 0.9920 and 0.9900, including 200-day SMA as immediate supports. However, pair’s declines past-0.9900 might not hesitate recalling the 0.9860 and the 0.9800 on chart. In case prices rally beyond 1.0010, the 1.0040 and the 1.0085 could quickly appear as quote. Additionally, pair’s successful rise above 1.0085 can flash 1.0130 on buyers’ radar.

EUR/CHF

Unlike USDCHF, the EURCHF bounces off the near-term support-line, at 1.1270 now, which in-turn highlights the importance of 1.1315 and the 1.1355-60 resistance-region. Given the pair’s sustained rally after 1.1360, the 1.1390, the 1.1405 and the 1.1435 are likely consecutive resistances to gain market attention. Meanwhile, break of 1.1270 could trigger the pair’s dip to 1.1240 and then to 1.1210 whereas the 1.1190 and the 1.1180 might entertain sellers then after.

AUD/CHF

Failure to clearly cross the 50-day SMA seem dragging the AUDCHF to 0.7030 support, breaking which 0.6960 and the 0.6930 can offer intermediate halts during its drop to 0.6880-70 area. If at all the pair keep trading southwards under 0.6870, the early-month low of 0.6675 may become Bears’ favorite. Alternatively, 50-day SMA level of 0.7130 may restrict the pair’s adjacent rise prior to escalating its recovery to 0.7190 and the 200-day SMA level of 0.7240. Though, eight-month old resistance-line, at 0.7325, could challenge the Bulls past-0.7240, if not then 0.7400 might please them.

CAD/CHF

CADCHF still follows the “Rising Wedge” break indicating the pair’s slump to 0.7340-45 support-zone but 0.7415 & 0.7375 can act as buffers. Should prices slid below 0.7340, the 0.7300, the 0.7245 and the 0.7175 may be aimed if holding short positions. On the upside, 0.7490 and the 0.7515 could confine the pair’s immediate rise. Given the pair’s ability to surpass the 0.7515 barrier, the 0.7550 and the 0.7585 may lure the optimists.

Important CHF Pairs’ Technical Overview: 10.01.2019

USD/CHF

In spite of dropping to the lowest levels in fifteen-weeks’ time, the USDCHF still bounced off the eleven-month long ascending support-line, at 0.9710, which together with near oversold RSI signal brighter chances of the pair’s pullback moves to 0.9790 & 0.9840 immediate resistances. Should the pair manage to conquer 0.9840 barrier, the 200-day SMA level of 0.9885, the 0.9915 trend-line resistance and the 0.9950, including 50-day SMA, can entertain the buyers. In case prices close beneath 0.9710, also dip under 0.9700 round-figure, on a D1 basis, the 0.9680, the 0.9630 and the 0.9600 may flash on the chart. Moreover, pair’s sustained downturn below 0.9600 might not hesitate visiting the 0.9580 and the 0.9530 rest-points.

CHF/JPY

Having reversed from 111.25-40 resistance-region, the CHFJPY is likely declining towards 110.00 and then to 109.70 before testing the 109.20 support. Given the quote slips under the 109.20, the 108.60 and the 108.20 may regain market attention prior to highlighting the recent low around 106.15. Alternatively, a clear break of 111.40 could help the pair to rise in direction to 111.90 and 112.80-90 hurdles to north. Though, pair’s successful rally above 112.90 can please Bulls with 113.50 & 114.00 levels.

GBP/CHF

With the short-term descending trend-line restricting the GBPCHF upside, the pair is likely to aim for 1.2375-65 support-zone, breaking which 1.2285 might appear on sellers’ radar. If Bears refrain to respect the 1.2285 mark, the 61.8% FE level of 1.2165 should be targeted while holding short positions. Meanwhile, break of 1.2510 resistance-line can accelerate the pair’s recovery to 1.2590-1.2605 resistance-area. Assuming the buyers’ capacity to cross 1.2605, the 1.2670 and the 1.2710 could become their favorites.

AUD/CHF

AUDCHF presently rises to confront the 0.7030-45 broad resistance that’s been limiting the pair’s upside since three-weeks. If at all the prices surpass 0.7045, the 0.7070 & the 0.7100 could offer intermediate halts during their rally to 0.7150. On the contrary, 0.6960 support-line seems adjacent rest for the pair, breaking which it can dip to 0.6885 and 0.6825. However, extended south-run past-0.6825 can recall 0.6675 as a quote.

Three nice setups on with the Swiss Franc!

That was definitely one of the most interesting weeks on the financial markets. Sometimes all you need for proper attractions is low liquidity. Today, we will show You three very promising setups with the CHF, which yesterday got super strong but finishes this week on the back foot.

First setup is on the USDCHF. The pair is creating a flag formation, which in this case is bullish. Flag went as deep as to the long-term up trendline and this is a great place for a bounce. For the proper buy signal, we need to see the breakout of the upper line of this formation first.

Next one is the EURCHF, where the price is creating a hammer on the weekly chart. The place, where the hammer is present is not random. These are the lows from the 2018 and the highs from the 2016. The legitimate buy signal will be triggered, when the price will break the blue down trendline.

The reversal on the third instrument – AUDCHF is the strongest one. Here, it also does not happen in a random place. We are on the long-term support area, respected here in the 2015, 2016 and 2018. As for now, the weekly candle is a very handsome hammer and definitely promotes a further rise.

This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis

Technical Outlook For AUD/USD, GBP/AUD, AUD/NZD & AUD/CHF: 27.12.2018

AUD/USD

While three-week long descending trend-line continue restricting AUDUSD’s near-term upside, the pair has to close beneath 0.7020 in order to please sellers with fresh lows. In doing so, the quote can drop to 0.7000 round-figure and then to the 0.6930-25 support-zone ahead of aiming 61.8% FE level of 0.6900. Alternatively, the 0.7085 is likely immediate resistances for the pair prior to confronting the 0.7115 TL barrier, breaking which 0.7160 and 50-day SMA level of 0.7190 may come back on the chart. Moreover, pair’s sustained trading beyond 0.7190 could flash 0.7235-40 and the 0.7300 resistances on buyers’ radar.

GBP/AUD

Failure to surpass 1.8050-60 resistance-region may well drag the GBPAUD to adjacent support-line, around 1.7790, which if broken highlights the importance of 1.7730 and the 1.7650 rest-points. In case prices refrain to respect 1.7650 mark, the 1.7550, the 1.7470 and the 1.7370 could become Bear’s favorites. On the contrary, successful clearance of 1.8060 can trigger the pair’s rise towards the 1.8150 and the 1.8250 numbers to north. During the pair’s extended recovery past-1.8250, the 1.8360, the 1.8420 and the 1.8460 might entertain the Bulls.

AUD/NZD

AUDNZD still finds it hard to conquer eight-week old downward slanting resistance-line that gradually fetches it to the 1.0450-45 support-area that holds the gate for the pair’s further downturn to 1.0430 and then to the 61.8% FE level of 1.0380. Assuming the pair’s weakness under 1.0380, the 1.0365 and the 1.0320 can play their roles of crucial support-levels. If at all the pair manages to cross 1.0510 trend-line resistance, the 1.0530 and the 1.0580-90 may quickly mark their presence. However, the 1.0620 and the 1.0690-1.0700 might confine the pair’s advances after 1.0590, if not then 1.0765 seem critical if holding long positions.

AUD/CHF

Even after taking a U-turn from 0.6950-45, the 0.7000 and the 100-day SMA level of 0.7120 could challenge the AUDCHF’s recent pullback, which if surpassed can escalate the up-moves to 0.7190 and the 0.7250 resistances. Should the quote remain strong after 0.7250, the 0.7270, comprising 200-day SMA, followed by eleven-month long resistance-line at 0.7355, may lure the optimists. Meanwhile, a downside break of 0.6945 can have 0.6900 and the 0.6870 as rests before diverting market attention to 61.8% FE level of 0.6800 and the 0.6750 supports.