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Bear Cycle Remains Intact

EURCHF TECHS
  • The cross remains in a downtrend and is trading at its recent low.
  • The latest downleg has resulted in the break of a number of retracement points and this signals scope for an extension towards 0.9414, 76.4% of the Dec 29 - May 27 bull leg.
  • Note that the short-term trend condition is oversold.
  • A bounce would be considered corrective - for now.
  • Initial firm resistance to watch is 0.9664, the 20-day EMA

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