Last week, the resistance I was looking at came from a weekly chart. More specifically, I was focused on the 100 and 200-week moving averages. The pair managed to close above both of them which shows underlying strength.
This week, I have my eye on the 50-month moving average. The exchange rate has not traded above it in five years. The indicator currently comes in at 1.3205.
This week, I have my eye on the 50-month moving average. The exchange rate has not traded above it in five years. The indicator currently comes in at 1.3205.