© Dukascopy Bank SA
In the short-term, the currency couple may decline, as 57.14% of market players hold short positions in the pair. If traders' expectations materialize, the pair is likely to break through its daily PP at 6.0667 and approach the mark of 6.0567 (50-hour SMA) that may act as a defense against a further fall towards the long-term SMA at 6.0390.
© Dukascopy Bank SA