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The pair broke above the 50-Day SMA by 97.85, thus confirming consecutive gains towards 100-Day SMA by 100.50, the 101.40 resistance and the 200-Day SMA by 102.15. The nearest support is now eyed by the 50-Day SMA at 97.85. Only a daily close below this level would negate our constructive outlook and accelerate declines towards the 94.00 level over the medium-term.
Admiral Markets
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