© Dukascopy Bank SA
However, the bullish trend might have come to an end since the currency couple plunged below the lower limit of the 179-bar long channel up pattern. Now the instrument is sitting at the 200-hour SMA at 0.8360, a strong support zone reinforced by the four-hour S1. If this mark is broken, the currency couple is likely to move down to 0.8357/4 (four-hour S2, S3; daily S1), below which only 0.8342 (daily s2) and 0.8329 (daily S3) are capable of preventing a massive sell-off.
© Dukascopy Bank SA