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For the time being, the currency pair is trading around the 0.78 level that is near the upper trend-line. Moreover, the 1H and daily technical studies are pointing upwards, proclaiming that a bullish break-out could be the most likely outcome. We also think that in the shorter term the pair could go north; however, in the longer term most likely the pair will approach this year's low at 0.7767 once again. At the mean time, there is no strong conviction among the SWFX traders', who are slightly bearish (53.08%).
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