Overnight and again this morning it tested its rising support line and the horizontal significance of its current range can also be seen on this 4H chart.The range is 141.51 to 143.42.
A 5 minute break above this level would trigger a short term trade back up to the 5minute 800 sma although based on Fibonacci and previous horizontal resistance, 145 dead would be a safer target.
A break below 141.50 on a 1H basis would have greater medium term significance, with 140 dead as a realistic immediate target and 135.60 achievable.
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