By Peter Stoneham — Mar 09 - 02:25 AM
So far only a mild adjustment after the Tuesday slide
More of a squeeze could bring daily trend resistance back into play
Fading the line, currently 1.1993, a strategy with a tight stop
The line is drawn off the 1.2400 Feb. 2 high
200DMA initial resistance at 1.1903: increasing downside risk while below
Initial support 1.1836, session low, then Wed's 1.1805 low
Daily momentum readings remain negative and RSI flat lining at 38
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Source:
Refinitiv IFR Research/Market Commentary