retreated from the fresh 7-week high as US stocks turned negative. The pair is
nearing the 107.30 and this might bring it back into the range of the previous sessions
between 107.40 and 106.60.
turned to bearish mode today and dropped to 107.05. On the four hour time frame
the price is developing above its flat 100-day and 200-day SMAs while
stochastic is showing storng bearish momentum. The pair is reparing to test
106.90 wich if broken to below 106.60 will be the next target for the bears.