The greenback rallied after breaking resistance at 1.0594 and easily penetrated resistance at 1.0637, adding credence to our bullish view that low has been formed at 1.0481 last week and correction of recent decline to 1.0692-97 (50% Fibonacci retracement of 1.0903 to 1.0481 and previous resistance) is under way, above would extend towards 1.0742-52 (61.8% Fibonacci retracement of 1.0903 to 1.0481 and previous resistance).
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