The mentioned handle is followed by a confluence support, comprising of 23.6% Fibo. level of the 131.79-148.58 upsurge and the very important 200-day SMA, and should act as a key pivotal point for the pair’s near-term trajectory.
• A convincing break below the said support, the cross is likely to accelerate the fall further towards another confluence region, marking 100-day SMA and the lower end of the short-term ascending trend-channel formation.