Whipsaw price action Friday, but still with the coiled consolidation phase dominating for the past 2-3 week, rebounding from 1.1279/70 support, but still capped by the 1.1445/50/51 area.
We still see a negative bias both in the very short-term and for the short to intermediate view.
We repeat that whilst below key barriers at 1.1500 and more notably 1.1534 we see a downside bias and likely resolution through support at 1.1279/70 and 1.1261 for a bearish trend continuation.
For Today: We see a downside bias for 1.1279/70; break aims for 1.1224
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