The pair is consolidating near the 82.50 level. The key resistance is still at...
The pair is consolidating near the 82.50 level. The key resistance is still at 83.00, right where both the 100-Day and 50-Day SMA reside. Only a clear break and consolidation above this level would open a door for further gains towards the 84.50 resistance. Otherwise, we could see an additional setback to the 81.80 support, with a break below to aim the pair for testing the 80.90 support.
Edward Smith, technical analyst of company Admiral Markets.
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