Anyway and technically, the pair has little to offer at the current level, stuck a few pips above 1.0865, but unable to firm up above the 1.0900 figure. Ever since the latest FOMC statement, the pair has been trading quite choppy between 1.08 and 1.10, and the fact that stands mid range, sheds no light over what's next in the short term. As for the technical picture, both the 1 and the 4 hours chart favor the downside with a price acceleration below the mentioned 1.0865 Fibonacci support, favoring an approach to the 1.0800 level. Some follow through above 1.0900 on the other hand, should see the price extending up to 1.0950 a quite strong static resistance level that should limit the upside in the short term. Should the price finally break above it, the price may extend up to the 1.1000 area, with little probabilities of additional advances beyond it for this Monday.
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