The pair has broken and closed beneath the support level and now become a resistance level. The combining of falling trend line and horizontal structure created a contracting zone. The pair is currently testing the broken structure believing it has the capacity to continue downward
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Disclaimer
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.