The pair even broke the 1.1355 resistance and the 50 hourly simple moving average. However, the upside move was capped by the 1.1415 level and a connecting bearish trend line on the hourly chart.
The pair declined again and tested the 1.1355 support area and the 50% Fib retracement level of the last wave from the 1.1321 low to 1.1412 high.
Dips remained supported above 1.1350 and the pair bounced back. It broke the 1.1370 level and a short-term contracting triangle with resistance at 1.1375. It has opened the doors for more gains and it seems like the pair could climb again towards the 1.1400 and 1.1415 levels.
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