The pair slid on Thursday to test the support at 0.7145 and we can see that since the double top on 12/6 we’ve had lower highs and lower lows. We could see the pair test the low of 0.7055 from the 27/5 as th indicators all show negative momentum.


This pair broke lower yesterday and hitting support at 123.2. If it breaks below this we could see price test te 122.55 level. Looking at the daily chart, this retrace may just be the perfect opportunity for the pair to resume its longer term uptrend.