A strange currency pair indeed. Contrary to expectations, my expectations atleast, the EA pair did not go lower. The support at 1.8066 proved quite strong and it made a strong run upwards yesterday mainly based on the surprising strength of the euro. As can be seen from the charts, this pair faced resistance to its upmove at 1.8555.
It can also be seen that the price closed below this resistance yesterday. 1.8555 is a strong resistance on the weekly as well and hence unless there is a daily close above this level, there might be ranging between the resistance at 1.8555 and 1.8066. A break of 1.8555 should take the price to 1.8670 and then on to 1.89.
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