The three day rise (including today) may be encouraging, however, the cross is yet to take out the descending trend line.
Failure to do so followed by a daily close below 0.8450 (Feb 14 low) would open the doors for a sell-off to a head and shoulder neckline support 0.8285 levels.
On the higher side, only a daily close above the descending trend line would signal a short-term trend reversal.
Failure to do so followed by a daily close below 0.8450 (Feb 14 low) would open the doors for a sell-off to a head and shoulder neckline support 0.8285 levels.
On the higher side, only a daily close above the descending trend line would signal a short-term trend reversal.
