The current price stands at 1.24476, with a resistance zone noted at 1.25846-1.26409. A breakthrough of the resistance zone could bolster the likelihood of a bullish reversal. Conversely, a breach of the support zone might signify a continuation of the bearish trend. Notably, the moving average 50 remains below the moving average 200, underscoring the prevailing bearish market sentiment. In contrast, the RSI has broken its trend line, suggesting that the current trend may either transition into a sideways pattern (with potential downside continuation) or mark the onset of a bullish reversal phase.
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