DairyFarm USD – Daily timeframe (Update from 02 Sept 2016)
Current Sentiment: Bullish
Support 1: 6.79 Resistance 1: 7.48
Support 2: 6.60 Resistance 2: 7.53
After hitting the 7.48 immediate resistance area on 05/09/16, price went into a further correction.
However, the correction was halted by the 61.8% Fibonacci retracement level and 60 day moving average, keeping the uptrend intact.
In addition, the bullish rejection on 03/10/16 succeeded in closing price back above the 20 day moving average, signals a move back into the uptrend next.
Expect price to rise back into the uptrend next to test the 7.48 resistance area.
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