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At the moment, the currency pair is trading around the lower boundary of the pattern. If the lower trend-line will hold the pair's bears back then a repeated test of the 1.28 level is possible. However, there are certainly down-side risks. The hourly and daily technical studies are pointing downwards, therefore increasing the bearish risks. At the same time the traders' sentiment is more or less neutral with 53.29% of them expecting a rebound. For bullish traders the monthly PP and weekly R2 is the target.
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