The key "barrier" lies at the 1.11786 resistance level – if the price breaks through, the door to 1.12297 opens, promising a strong breakout.
However, if it "stumbles," the price may fall back to the 1.11149 support level to regain momentum. Interest rate "waves" and monetary policies from the US and Europe will shape the next move.
Traders should be ready for buying opportunities on a breakout or selling if the price retraces from resistance!
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