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Technical Analysis Points to Further Upside
The pair is trading below the 55-EMA, below 200 EMA and 365 EMA on the 1-hour chart indicating a mixed trend. The immediate resistance is at 0.8150 any break above targets is 0.8180/0.8200/0.8250.
Support Levels and Potential Declines
On the downside, near-term support is around 0.8090, any violation below will drag the pair to 0.8000.
Indicators (1-Hour)
CCI (50) - Bearish
Directional movement Index - Neutral
Trading Strategy Recommendation
It is good to buy on dips around 0.81000 with a stop-loss at 0.8050 for a TP of 0.82400.
