Trying to build fresh momentum with a move back to the pivotal .7000 level, which has trading again for the 4th day in a row (the longer this pattern goes on, the greater the risk of a directional move once it is broken).
This follows a retracement from .7021 => .6965 and bounce back to .7000.
So, .
- 7000 will ultimately set the tone
- Downside limited unless .6965 is broken
- Upside needs a firm break of .7021 for further momentum
- Key level is .7088 (6 week high): Would become the target should .7021 be firmly broken
- (AT daily chart)
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