Today’s support and resistance levels:
Current spot: 1.6151
Nothing really changed here. We have seen a new rally to 1.6263, which again was rejected for a new move lower. The picture is still very complicated, without any real signs of, which direction that should be favored. We do slightly prefer the upside, but we will await a more clear picture, as a break below support at 1.5999 will shift focus towards the expanding diagonal pattern.
We will continue to stay on the sideline for now and await a more clear picture.
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