We continue to hold a slight bullish bias on the pair but the outlook is not very clear considering the overall lack of volatility.
If we do see the market holding above 1,6360 (daily 20 moving average and 50% fib retracement), we will consider a bullish resumption soon. Inversely, a break below this level would expose a setback towards the daily bollinger band at 1,6150.
We will wait for the end of the current retracement before considering a buying opportunity.
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