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The pair trades flat ahead of Trump tariff announcement. Intraday bias remains neutral as long as resistance 0.8450 holds. It hits an low of 0.83410 and is currently trading around 0.83758.
Technical Analysis
The pair is currently trading below the 34- and below 55-EMA on the 4-hour chart.
- Bearish Trend Confirmation: Any break below 0.8300 confirms an intraday bearish trend. A drop to 0.8260/0.8220/0.8190 is likely.
- Near-Term Resistance: Current resistance is around 0.8450. Any violation above will push towards 0.8470/0.8500/0.8580. The bearish outlook would be invalidated only if the price goes above 0.8500.
Indicator Analysis (4-hour chart)
- CCI (50): Neutral
- Average Directional Movement Index: Neutral
Trading Recommendation
It is good to stay away.
