This week's choppiness has shaped a falling wedge, with the downtrend slowing down around the 1.20 support level, since falling 140 pips or 38.2% of the swing from 1.17 to 1.215. The apex of the wedge is located at the 200 EMA.
Furthermore, today's daily candle opened a couple of pips under the 20 daily MA at 1.20172 and a close today or tomorrow above it could build a bullish case for further advancement, with oscillators recharged and RSI at 50.
https://s3.tradingview.com/snapshots/n/nRwuN3jN.png
Furthermore, today's daily candle opened a couple of pips under the 20 daily MA at 1.20172 and a close today or tomorrow above it could build a bullish case for further advancement, with oscillators recharged and RSI at 50.
https://s3.tradingview.com/snapshots/n/nRwuN3jN.png