29.11.2023 11:21 PM
The currency pair crashed after failing to stay above the historical level (former high) of 1.1144. It has ignored the minor uptrend line which represented a first downside obstacle and now it has reached the uptrend line.
Technically, the uptrend line represents a downside obstacle. As long as it stays above it, the rate could jump higher again.
Dropping and stabilizing below the uptrend line activates a deeper drop. This could help the sellers to catch a downside continuation.
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