Price Retracing Lower

After a strong move higher, price is now making a retracement back lower in this pair back into the daily support level.

If you zoom your daily chart out you will see that this is all going on within the ranging movement that started back in May of this year.

Price has once again rejected the resistance and high of the longer term range and moved back lower into this support.

If we can now see this support hold we could look for momentum to build for a potential breakout higher.