Bearish: Currently, we are at 0.8754 in the bottom of a channel. IF we can break here, we are looking for a continuation initially to the ATR Target at 0.8721 and then to the 0.270 Fibonacci at 0.8673. The average daily true range (ATR) for the pair currently is 51 pips but its 180-day ATR is 63 pips a day.
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