Oil prices keeping the pair supported…
The price of crude oil is lower by -$0.88 or -1.82% To $47.52. The low extended to $47.28. The price is below the 200 day MA at the $48.66. There have only been a handful of days since the end of April 2016 where the price closed below that MA level. Bearish. The next targets on the daily come in at trend line support at $46.38. The 38.2% of the move up from the Feb 2016 low comes in at $44.09. That too is a target on more weakness.