© Dukascopy Bank SA
At the moment, the currency couple is sitting near the 50-bar SMA at 1.9502. Given that most traders have not lost faith in the pair – around 65% of them still believe the currency couple will appreciate in the hours to come – we may expect the instrument to bounce off its short-term SMA and reduce the distance from the neck-line thus confirming that a bullish breakout may be looming.
© Dukascopy Bank SA