Pair ended at 1.2436 on Friday after having recovered from the flash crash on Friday. The spot traded around 1.24 levels at the time of writing.
On the 4-hr chart, we have bullish money flow divergence, while the daily RSI has hit the oversold territory.
Hence, a break above 1.2445 (Asian session high) could yield a corrective rally to 1.25 – 1.2586.
Note that we are operating in a largely uncharted territory. Short-term and long-term averages are overstretched. Overall, it appears the spot is likely to turn sideways in the short-term.
On the 4-hr chart, we have bullish money flow divergence, while the daily RSI has hit the oversold territory.
Hence, a break above 1.2445 (Asian session high) could yield a corrective rally to 1.25 – 1.2586.
Note that we are operating in a largely uncharted territory. Short-term and long-term averages are overstretched. Overall, it appears the spot is likely to turn sideways in the short-term.
