After a drop of 154 pips from its high of 108.47 on 19 Sep to 25 Sep 2019 low of 106.97, the pair has managed to stage a recovery right at a minor ascending channel support in place since 26 Aug 2019 low.
Elements have turned positive where the “residual push up scenario of a corrective rebound phase” is in play again.
Bullish bias now above 107.70 short-term pivotal support for aresidual push up to target 109.00 and 109.30/50 major resistance before the risk of a bearish reversal sets in.
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