Looking through the daily charts, I saw that at the 1.66XXX range back in 10/30/2008 the pair hit resistance. Would it be safe to say there would be a continued drop to the 1.55XXX range where the currency had support back in 10/24/2008?
Trends in the moving averages also seem to be at the start of a short spell.
I’m trying to get a better grasp of the S/R methodology and usage so if you have any good pointers please share