One of the pairs that has more interesting picture on the bigger timeframes. After almost three years of trading within the box from 0.68 to 0.78 we are now breaking higher. We have touched 55 MMA and have rejected that level.

The weekly chart shows similar pictures and that RSI has been moving higher that is also reflected in the chart.We are now comfortably above all three moving averages but have been rejected from the 61.8% key resistance. We may revisit 200 WMA and look for the support before continuing higher.

Since we needed more than 10 years to move outside of the box dont expect to move back there quickly. You can expect high 70s and low 80s in the coming months. As always, watch for any risk off events that may cause more downside.
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