The pair continues to trade flat above its historical low at 76,30 but remains under pressure.
Yesterday, we did see a break down below a multi-day rising trendline which now exposes a new test of 76,30. We expect some bullish reaction on this level but we don’t rejet the possibility of a breakout which would expose further decline.
We need to see at minimum a break above 77,00 to alleviate the immediate downside pressure.
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