Current Price: 102.54
Rate remains range bound while bumping up against resistance for the fourth time in six days suggesting that the rate wants to try for stops above the 103.00 area but unable to vault offers ahead of 102.80; volumes are getting lighter and if the rate continues to coil in this area and fail there is a strong possibility for a free-fall several handle as disappointed longs bail; support at 100.00 area said to be strong. Resistance likely at the 50 bar MA should an upside break happen.
Analysis by: Forexpros.com written by Jason Alan Jankovsky
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