Technical outlook and chart setups:
The currency pair has been trading within the vicinity of 1.4380/1.44 for a couple of days as shown here. Please note that this level is also re-enforced by the fibonacci 0.618 support as depicted here. It is still recommended to remain long; also fresh long positions could be taken at this time (1.4410/20). Immediate intermediary resistance is spread through 1.4620/30, followed by 1.4700, and 1.4800; while support levels are fixed at 1.42 and 1.4075 respectively. The overall structure suggests that a push higher should materialize any moment and that a push higher to 1.4650 would confirm the same.
Trading recommendations:
Remain long, stop is below 1.43, target is at 1.49.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
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