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It has been a little over a month since we last looked at this cross. Not much has happened since then, but we are seeing more clear signs of a bottom developing for the next impulsive rally towards 0.92070 and ultimately higher towards 1.0592.
Short-term we are looking for a firm test and break above the neckline resistance of the S/H/S bottom near 0.8705 and a break above here will call for the expected rally towards 0.9270 and ultimately above too.
Support is seen at 0.8394 which ideally should act as a floor.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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