the pair already corrected the 38.2% Fibonacci rally of the last up leg in 4hours charts, from 1.5764 to 1.5963: it has a tough support zone around 1.5835, that if broken could send the pair to the next support at 1.5798. Seems unlikely to see the pair under that support today, as by this hour it has already rallied more that 100 pips, although 4 hours indicators are suggesting a continuation to the downside. If manages to pass, next support will be at 1.5772.
First resistance from here will be in the zone around 1.5888, followed by the zone around 1.5920, and finally 1.5963, Asian session maximum.
In a few minutes European Industrial Production, expected quite negative, is the only schedule fundamental that can affect the pair today.
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