• On Friday, the pair once again managed to find decent support near 200-hour SMA and finally settled nearly unchanged for the day, gaining for the third consecutive week.
• The mentioned support coincides with the lower end of an ascending trend-channel – held since the beginning of this month, and should act as a key pivotal point for the pair’s near-term trajectory.
• Meanwhile, oscillators on hourly/daily charts have again started gaining positive traction and add credence to the bullish set-up, supporting prospects for an extension of the recent positive trend.
• A sustained move beyond the 1.0030 horizontal zone will further reinforce the constructive outlook and might assist the pair to aim towards testing the channel resistance, near the 1.0055-60 region.
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