Can the sellers keep the momentum going? A move back above the old low level may lead to disappointment from the sellers. Stay below and there the next key target area would be at the swing area between 1.16016 and 1.16116 which corresponds with lows from November 4, 2020 and September 28 respectively (see daily chart below). Trade below that level and the door opens up for a potential move down toward the 50% midpoint of the range since the March 2020 low (and a swing high going back to March 2020 as well). That level comes in at 1.14918.
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