This week ought to mark the 5th straight weekly decline as the pair has started out the week at the back foot all over again. Just weeks ago now the price broke the 0.9450 aid area and now it seems there can be some extra downside beforehand as the rate appears to test a few more critical levels.
The subsequent foremost region lies on the psychological zero.Ninety two stage and it's been very important inside the past. On this chart alone the fee has hit the place four instances and then observed its way higher. Below that, there may be also a stage simply underneath zero.91 in black and this could be considered the real consolidation low. It is secure to say the greenback is in a robust downtrend and if the coronavirus scenario receives worse there may be greater pain beforehand.