Watching Momentum Higher

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Price in this pair is hovering just below a major daily chart resistance level.

As the daily chart shows, this level has been holding as a major resistance all of this year.

Price has now formed a new higher low and looks like it could be building to make a serious attempt at breaking out higher.

A breakout higher would be preferred in this pair because price has been ranging and moving in a sideways pattern for months on end.

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