After a rebound last week, the cross failed to clear the key short term resistance at 0.9824 (1st retracement of the downtrend since March top before resuming its downtrend. These elements signal a likely return to the recent low at 0.9547 before a test of the next important support at 0.9406/22 (medium term retracement). A break above 0.9824 would invalidate this scenario. Sell – Stoploss @ 0.9825 – Target @ 0.9423.
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Natixis