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Currently, the pair is hovering around the lower trend-line of the pattern below the 1.12 level. Nonetheless, at the current trading levels there is a cluster of support levels (100 and 200-period SMAs, daily PP and pattern's support). Also an overwhelming majority (72%) of the SWFX traders' are bullish on the pair. Therefore, if the pair holds above the daily PP then a rebound above the 1.12 mark is likely. At the same time there is a downside risk in case the pair's bulls do not manage to carry the pair above the pattern's lower trend-line.
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