Another setback to end the week and intraday bear gap Monday (1.1237-46) to leave a further downside bias for Monday.
However, whilst above 1.0819 we see a bullish bias through mid-June (from the prior push up through 1.1208).
- We see a downside bias for 1.1148; break here aims for 1.1077.
- But above 1.1246 opens risk up to 1.1296, maybe 1.1331.
Short/ Intermediate-term Outlook - Upside Risks:
We see a positive tone with the bullish threat to 1.1467.
Above here targets 1.1534 and 1.1680.
Overshoot risk is higher for 1.1871.
What Changes This? Below 1.0819 signals a neutral tone, only shifting negative below 1.0658.
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