The pair is supported amid the falling demand for defensive assets as the Fed is expected to continue reducing interest rates and bankrolling the dollar, which would stimulate the growth of demand for risk assets. In this scenario, the Japanese yen will sell off as a safe haven currency.
The …
Sber Bank had broken the support level 224.64 at 50% Fibonacci retracement. And closed underneath. Having managed to breach the 50 MA also.
The price is moving downtrend after it failed previously to break the resistance of 235.96.
The price moves below the 20-50-7 moving averages which forms price resistance …
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