By: Doug Rosen
The correlation between this pair and the EUR/USD is very strong and therefore both pairs as well as their charts are looking very similar to me. On the daily chart price has came back up and has kissed the daily 5 ema and now price has permission to continue its bearish move to the downside.
On the 4 hour chart the 21 ema appears to be in control, looking at the 1 hour it appears price wants to continue to the upside a bit longer, I think it can go back up to 102.75 area which is in the vicinity of yesterdays high then should continue its way back down.
