Although the intra-day brief drop to 1.0582 stopped out our long position, as the greenback found decent demand at 1.0582 and has rebounded, suggesting as long as this level holds, consolidation with upside bias remains for another test of 1.0676 (yesterday’s high), above there would signal the rise from 1.0481 low has resumed for a stronger retracement of recent decline to 1.0692-97 (50% Fibonacci retracement of 1.0903 to 1.0481 and previous resistance)
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