«Bears» managed to push the price below 1.0660/50 support. The test of this barrier as resistance later ended up with a failed breakout, which indicated that trades had held below 1.0650, and gave even more reasosn to expect the pair to reach previously mentioned targets at the local lows of 1.0500, 1.0460, formed in March. Trading is currently carried out at 1.0580/75. The indicators say in favor of such development – divergence at MACD suggests that decline may halt any time soon, most likely on the way to the above mentioned targets at 1.0550/30. The support looks to be rather strong, which can trigger reversal to 1.0720 resistance and become the “first leg” of correction within the range of 1.0720-1.0550/30. The breakout of the 1.0500/1.0460 support range, on the other hand, will give reasons to expect the test of lower levels at 1.0400/1.0370.
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