PA is bouncing up due to a very strong need for momentum correction as can be seen in the divergence in the RSI. BUT, there is still a very strong cluster right at 1.20 and I believe PA should go up a bit more to re-test swing highs and finish the correction before dropping back down to take out the 1.20 cluster.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.