Pivot (invalidation): 5.8930

Our preference Short positions below 5.8930 with targets at 5.8670 & 5.8530 in extension.

Alternative scenario Above 5.8930 look for further upside with 5.9100 & 5.9300 as targets.

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Comment Technically the RSI is below its neutrality area at 50. The pair has posted a bearish pattern of lower highs while being capped by the descending 20-period moving average.

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