Now, the question is what it will do this time around?
Technically, we will be expecting some kind of bounce from this level next week for two main reasons. First, it's been proven that this level is strong support for this pair and also currently, it's in oversold territory. Next week is short week for U.S market due Memorial Day holiday. So, volume will be thin. We have neutral bias on this and will wait for confirmation before taking any long position. Daily close above 1.5700 will give some reason to buy. Below 1.5600 will give bears more reason to sell.
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