Strong rally of past two days lacked momentum and remains capped by 30SMA (0.7357) for the second day.
Doji candle of Asian/early European trading confirms sideways mode, supported by flat momentum/RSI studies, while daily MA’s are in mixed mode.
Bullish scenario requires break above 30SMA to expose key barriers at 0.7381 (21 Aug high/falling 55SMA) break of which would be strong bullish signal.
Near-term focus is expected to remain at the upside while the price holds above 20SMA (0.7334), while softer tone could be anticipated on break lower.
Break and close below ascending 10SMA (0.7312) would revive bears and risk further weakness.
Res: 0.7357, 0.7380, 0.7393, 0.7453
Sup: 0.7334, 0.7322, 0.7312, 0.7285
