Price has broke a key support level
at 1.2973 (short term descending line, horizontal pullback resistance, 23.6% Fibonacci retracement
) and we’re seeing strong bearish
pressure from our descending resistance line. RSI
is also seeing bearish
pressure from our descending line. We expect to see a drop
all the way down to 1.2774 (61.8% Fibonacci retracement
, horizontal swing low support) from here.
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