The broader bearish view would resume on a break below the April opening range low at 105.65 that aligns closely with the daily Tenkan-Sen (26-day midpoint) at 106.06 as key support. Should the price close below these levels, it would be difficult to argue that the trend is not continuing lower and could soon press towards the long-term Fibonacci target of 104.20. We typically take a contrarian view to crowd sentiment, and the fact traders ...
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