Nevertheless, the intraday technical picture continues to favor the upside, with the price above a strongly bullish 20 SMA and the technical indicators regaining the upside in positive territory. The immediate resistance continues to be the 1.1000 price zone, with renewed buying interest above the level probably signaling a retest of this month high at 1.1040. If the price manages to extend above this last, an approach to 1.1100 comes next.
On the other hand, the immediate short term support comes at 1.0930, with a break below it exposing the pair to a steady decline towards the 1.0865 price zone, 38.2% retracement of these last two months bearish run.
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