The temporary rebound is probably over and prices look ready to resume their decline. The extent of the decline depends on the thrice-tested support area at $1.02 to $1.07. If this does not hold, an initial downside target of 90 cents is indicated.
Medium-term indicators are still in overall downtrends, with no signs of positive divergences. Meanwhile, short-term indicators are near overbought levels. A break above $1.10 could negate the negative outlook, but there is not enough buying pressure currently.
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