Current Price: 100.14
Rate technically has a net positive day with a higher high and a higher low; rate apparently testing the bullâ€™s conviction on the day but no real selling effort threatens the recovery in my view. Look for more two-way action the next 24 hours and an upside bias may remain should stops above the 101.20 area get triggered. News tomorrow likely to help as todayâ€™s data spooked the USD bulls; a positive reading may help with a reversal higher. Dips likely to be bought around the 99.50/60 area again.
Analysis by: Forexpros.com written by Jason Alan Jankovsky
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