Spot Price: 1.2275
Technical Analysis:
RSI is pointing down but the MACD is heading for a bullish cross.
Rebound from Wed"s slide and rebound away from the 10-day MA line, now at 1.2250, was rebuffed just shy of the 200-day MA at 1.2318. Prices have breached that MA this week but not been able to post a daily close beyond it. Double-day highs at 1.2330 remain the upside pivot point. We"d use the 10-day as the initial buy below