The two weakest currencies, EUR and USD are oscillating within a range, largely located above the strong support of the level 1.3510 and below the key resistance of 1.3735. No particularly strong trend. Recently market has found support at the quartile of an up fork that well describes the corrective nature of the June-July price action. It is quite possible that the next thing we see, will be a retest of the blue median line
as well as of the prior minor highs (1.3642). But the general outlook is still rather bearish
. The rally retraced by 61.8%, which means it's not particularly bullish
. As price tends to follow the path of least resistance, I find the support levels much weaker than the resistance ones.
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