During the previous week, the US Dollar rebounded perfectly from the 4 hour resistance level 107.465, and is currently rallying to the lower side. We expect this level to have marked the end of the impulsive wave (c) that the current bearish price rally is the continuation of a corrective rally but should not go beyond the 106.952 where we'll be looking for a potential buy opportunity. This view can only be invalidated in case the price breaks below 106.952, if this is the case, then we expect a rally further to the lower side.
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