By Peter Stoneham — May 07 - 03:05 AM
Bearish Monday close but also a long lower candle shadow
Mixed signals but within a potential bullish continuation pattern
Daily momentum just holding onto positive values and RSI is rising
Initial resistance at 0.8587, a 50% Fibo off 0.8643-0.8531
A close above this retracement level would strengthen the bullish argument
The 200-day moving average presents a bull target at 0.8607
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Source:
Refinitiv IFR Research/Market Commentary