is bouncing off its support level
at 0.7271 (horizontal overlap support, 38.2% Fibonacci retracement
) which coincides with the short term ascending support line. A strong reaction could occur at this level, pushing price up to our next major resistance at 0.7309 (50% Fibonacci retracement
, horizontal overlap resistance).
(89) is also boucning off its ascending support line at 52% and a corresponding rise in price might occur at this level.
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