I am anticipating the break of the 1.37500 midlevel and a push through the 10MA after a bearish engulfing candle on the 4hr chart. There was a clear rejection of the 1.38 psychological level during London session this morning and yesterday price failed to close about the 1.37500 midlevel on the daily chart. If the midlevel is pushed through, I believe the lows around the 1.36750 area will be taken out and the 1.36500 midlevel will be reached.
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