It pproached the 38.2% retracement of the day’s trend like range.
The 38.2% retracement comes in at the 1.3257 level.
As a result, this level will be eyed as support. A break should signal a period of consolidation or decline from the recent move higher.
Here is a chart of it
Ok but it's in a downward channel at the moment. It may have support at the 38.2 but that would imply it's a small consolidation before a continuation. The only way to continue is to try for another breakout, which it has already hit resistance at. Plus the downward pressure of the channel still looming.
The daily candle shows an shooting star but not yet the confirmation candle.
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