Thus, two scenarios should be examined. On the one hand, the rate could find support at the 55– and 100-hour SMAs and the weekly PP and appreciate up to the aforementioned 0.90 level and subsequently form a retracement from the long-term channel. This scenario is more probable, especially if the rate remains sticky to this long-term channel.
On the other hand, the pair could reverse to the downside and target the weekly S1 at 0.8667 during the following trading days.
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