Growing risk appetite weighs on a safer US dollar. The rally above 1.3360 confirms that short-term sentiment has turned around.
However, the push might have run out of steam as the RSI shows a bearish divergence. The deceleration indicates limited buying interest after the price went parabolic.
1.3400 is an immediate support. Its breach could trigger a correction and force the latest buyers out. Then 1.3300 would be the next support. 1.3500 is a major resistance from the daily chart.
Written by Admin
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