The pair is consolidating by 1.0300, so the risks are still mixed and from current levels we could either see...
The pair is consolidating by 1.0300, so the risks are still mixed and from current levels we could either see an additional setback towards the 50-Day SMA by 1.0130 or a new attempt to reach the 200-Day SMA by 1.0410. A daily close above the 200-Day SMA would confirm the medium-term uptrend towards the 1.0750 resistance. Consolidating below the 50-Day SMA would open a new downside extension towards the 0.9860, 0.9660 supports and the 0.9385 low.
Edward Smith, technical analyst of company Admiral Markets.
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