Key resistance at 1.1615

٥ مايو ٢٠١٦

Technically, the pair has struck against a significant resistance at 1.1615 given by the high of August 2015 (close price) and the channel resistance. In addition, a shooting star has formed which represents a potential trend reversal. Furthermore, the MACD is displaying a bearish divergence.

As long as 1.1615 isn't broken by a significant margin, the bear camp has the edge in my opinion.