The pair has been losing momentum for the past 3 months. It is finding support around 0.9200 which if respected would result in a potential rally towards 1.1100 highs. If last weeks resistance gets broken then we are looking at a bullish week with high probability of price reaching and potentially breaking 1.3500 highs. If price falls below 0.9200, then we can expect to see bears taking the market down an additional -200 pips, adding strength to the yearly downtrend.
Comment:
Correction: 1.09200 support
