Recovery rally from temporary base at 0.7042 extends into third straight day but rally was so far capped by falling 10SMA (0.7133), showing initial signs of stall.
North-heading slow stochastic which reversed from oversold territory supports for further recovery, but momentum remains negative and MA’s in bearish configuration warn.
Recovery needs sustained break above 10SMA and nearby Fibo barrier at 0.7146 (38.2% of 0.7314/0.7042) to generate fresh bullish signal for extension.
Negative fundamentals keep the downside vulnerable, with larger bears taking a breather before resuming.
Break below key supports at 0.7042/00 would confirm bearish continuation.
Res: 0.7133, 0.7146, 0.7183, 0.7210
Sup: 0.7080, 0.7054, 0.7041, 0.7000
