Price Action Context

After the failed attempt by bulls to clear the long-term key resistance around 1.83 in the end of June, bears gained the upper hand and successfully cleared a mid-term key support in the past trading week, a S/R zone that now should act as resistance on weak pullbacks.

Trending Analysis

Mid-term bias bearish and bears can look for potential shorts on short-term strength into the key resistance.

Key Support & Resistance Zones

R: 1.6020 – 1.6120
S: 1.5680 – 1.5780

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