Tuesday’s close above the 1.0775 (Jan 24 high) suggests the rally from the January low of 1.0340 has resumed, although downward sloping 100-DMA at 1.0812 and the loss of momentum as indicated by the intraday MACD means the spot could revisit 1.0730 (monthly 5-MA) before making another attempt at 1.08 levels. On the higher side, 1.0850 is a strong resistance.
On the downside, only a daily close 1.07 would indicate bullish invalidation.
On the downside, only a daily close 1.07 would indicate bullish invalidation.