By: Investija
Bears have extended their negative movement downside to 90.07 price level. However bulls initiated a recovery movement by breaking short term negative trend and reaching low trading range between 90.51 and 90.42. While candles remain between these barriers, further bouncing is expected. Stronger activity is expected only after a breakout of 90.51/90.42 price levels.
Wide trading range remains between resistance at 90.74 and support at 90.27. Significant resistance holds bulls from further climbing.
A breakout of lower resistance at 90.51 can initiate a possible short term movement towards another level at 90.74. At the moment waiting for confirmation of breakout near 90.51 price level.
