Monthly chart:
In January, the pair busted 100 month SMA, 38.2% retracement of the 2009 to 2011 uptrend and the low of the 2011 to 2014 trading range around 0.7350. February, March and April were more or less range-bound, but in May the pair broke to the downside strongly in what proved to be continuation of the longer term downtrend. In June, 0.70 and 50.0% retracement of the 2009 to 2011 uptrend (0.6868) were convincingly broken and the pair fell to almost 0.60 during July and August before it…
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