Stays below the 100 day MA and moves below the Feb lows
The news of the US tarriffs have sent the price back below the earlier February low at 0.7758. The price had rebounded above that level in the US morning session but did stall ahead of the 100 day MA.
That keeps the sellers more in control. The close risk is now the Feb 9 low at 0.7758. Traders who want to risk more could look to the 100 day MA at 0.7769 currently.
Looking on the daily chart, watch the 0.7729 area. The low on October 6th, the low came in at 0.7732. The high on November 2nd was at 0.7729. In December, that level was broken and until today, the price has not been below.
We currently trade just above that level at 0.7732. A move back below would be more bearish.
