There are no changes in a short-term structure, as the pair is still trading within the same range limited by...
There are no changes in a short-term structure, as the pair is still trading within the same range limited by 0.9800 and 1.0020. Breaking and consolidating below 0.9800, right where the 100-Day SMA resides, would confirm bearish bias and aim the pair for testing the key support by 0.9540. Meanwhile, a break back above 1.0020 would allow continuing the upside trend towards recent highs at 1.0265.
Edward Smith, technical analyst of company Admiral Markets.
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