The downtrend has been well established with price continuing to make lower lows and lower highs. For this reason, we are expecting another pullback to a new lower high before expecting to see rejection sending price lower once again. Currently, the 1st area of resistance is the Monthly Pivot @ 1.167 with more resistance between there and the Monthly R1 @ 1.180. New structure lows will be a move to <= 1.152
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