FX Weekly (10 Dec ’17)

Corrective bounce developing as oversold momentum unwind.

Potential for a close above 94.20.

However, further gains expected to give way to consolidation as background studies turn mixed.

Cautious Upgrade to Neutral.

Support remains at 92.50/60.

A close beneath here is needed to confirm continuation of the November bear trend, and open up the 92.00, (76.4%) Fibonacci retracement.

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