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The pair is approaching support between 1.4100 and 1.4120. A bounce off this level indicates a move higher to rest resistance between 1.4260 and 1.4280. A break above indicates another move higher and a test of further resistance at 1.4320.
Support below 1.4100 is at 1.4080 followed by 1.4000.
With the trend still up the bias is to the upside.
Support at 94.40 has held so far, a break will likely target 94.00. Further support is at 93.80 and 93.40.
Resistance on the upside is at 95.00 and 95.50. The current trends point to a bias to the downside for the pair. But 94.40 will need to be penetrated on a sustained break for that to materialize.
Forex trading analysis by Forexpros - Written by Cory Mitchell
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