This currency pair is currently on the H1 chart at the border of the short-term rising trend line and around the local support. Following the reaction to the current macroeconomic data and price action, a breakthrough of this support level and a subsequent drop in the price towards the next support, where our target price is, is likely.
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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.