The rise above the 200-hour MA could not be sustained with the last few hours seeing the pair move lower. That move lower (higher USD) comes despite US yields rotating off the highs. THe rising 100 hour MA comes in at 1.04089 and the 50% of the trading range since the 2022 low at 1.04053 is now support. A move below that level would be needed to increase the bearish bias.
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