Exotic Trading is a series of analyzes, which is published on the pages of Comparic.com. The main motif as the name suggests are the so-called. Exotic currency pairs.
As a result of rejection of 1.5160, we see declines from Monday. Even that in the vicinity of the Friday lows, which I mentioned in my last analysis, there was a demand response, it was finally defeated today. As a result of today’s falls, we also broke bottom of growth channel, and as long as falls continue, we could expect to test level around 1.4970. It is worth noting, however, that we still have not tested the bottom of today’s support (now resistance), and that is the re-test of this zone we would expect as first.
Since November 30, The market is moving in consolidation. As a result of the ongoing declines since mid-March, we are once again in the vicinity of its lower limit, where strong demand occured at the beginning of the week. If the uptrend continues, we could expect a re-test of 81.85.