By Peter Stoneham — May 12 - 05:20 AM
New trend high at 0.8618 but gains were fleeting
Overbought condition beginning to tell
On the pullback, risk to 0.8528 Wed low point
Below here and a deeper adjustment likely with reversal potential
Daily positive momentum has faded and RSI now rejected twice at 70
Resistance provided by the 30DMA upper Bolli line, 0.8624
We stand aside for now
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Source:
Refinitiv IFR Research/Market Commentary