Since the daily studies, RSI
and oscillator have been bullish
, and the breakout out of the range set to round out strong weekly gains after mid-August. The price action is on course for the best week in the past four weeks, and we continue to focus on the initial resistance seems to be at 1.1790 its early July high. Above here could possible to rally further to 1.1850 and 1.1950 its 50MA (Weekly).
As shown on the chart, the A-B-C structure is pointing to 1.1950 coincides with the 200MA. The key support level
is placed at 1.1730 and 1.1650.
Forecast: As long as 1.1650 is support look for 1.1950