As it is noticed through this chart, the pair is still forming bearish move for medium and long
-term through moving inside a bearish channel, the last trades are around the support level
1.6105 although the pair achieved a lower level but it did not achieve a good close below
this level, if the pair achieved this good close more declining is expected targeting the next
support level at 1.5970 at which the price is expected to coincide with the bottom border of
the bearish channel.
The stability of these expectations requires the stability of the resistance level 1.6165
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