Monthly chart:
After it closed the year 2014 below 200 month SMA, the pair continued its journey to the South with increased momentum. Big support levels (1.20 level, then 2012, 2010 and 2005 lows) fell like dominoes. 61.8% retracement of 2000 - 2008 rally was violated on two occasions, but the pair managed to retrace back above it, so technically it is still holding. If it gives way, the September 2003 low at 1.07606 will come into focus and further down 76.4% retracement (of 2000 - 2008 rally)…
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