Again, this is a market where market symmetries can assist us to determine our short-term bias. Ever since the recovery above 108.40 (100% proj target), the daily price action has provided enough evidence of this area being actively traded by market makers and short-term momentum accounts looking to adjust valuations. The upward slope in the 5-day moving average is another positive input I am personally factoring in. The last 2 daily prints, trapping volume to the downside while achieving bullish closes is a clear reminder that upward risks are building up as long as the risk environment remains sustained. I am personally holding a near-term long bias in this market, as the achievement of the projected target of 100% has been backed by price action and sustainable risk. I remain very versatile to change my views to bearish if we can achieve a close sub 108.40 with a deterioration in the risk tone. If this scenario eventuates, a potential resumption of the downtrend is on the cards.