Daily Resistance Now in Play

Price on the daily chart of this pair has now bounced higher into the recent swing high and resistance level.

This is an important level in this market as it has also been a recent price flip support level.

In recent times the momentum has been very mixed in this market.

Whilst we could look for this level to break higher in the medium term, we could also expect this level to give some resistance in the short term.

With that in mind, I would not be looking to enter any long trades just yet whilst this level remains intact.