By Randolph Donney — Apr 04 - 03:45 PM
Last week's 125.105-121.28 correction bottomed by key Fibo supports
Since segued into a rise toward Wed's 123.20 high by 50% of last week's drop
A 123.20+ close could target 2022's 125.105 EBS trend high
Would suggest last week's correction of O/B daily studies sufficed
Bigger target is 2015's 125.86 peak, the highest price since 2002
Prices traded entirely above the 10-DMA on Monday, now at 122.21
And there's been no closes below it since March 1
Uptrend is intact while closes remain above that MA
Weekly RSI still highly O/B at 82 by Oct and Apr 2021 peaks
For more click on FXBUZ
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Source:
Refinitiv IFR Research/Market Commentary