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- Pair is well supported above $0.7100 levels.
- It made intraday high at $0.7171 and low at $0.7100 levels.
- Corrective rebound from $0.6826 should have completed at 0.7241 already.
- On the top side, a daily close above $0.7241 is required to confirm the bullish trend.
- Alternatively, a break below $0.6826 will confirm the bearish bias.
- Strong resistance falls at $0.7384 marks and key support falls at $0.6826 levels.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
