The pair has been in a well defined consolidation area for 13 weeks. The longer a consolidation lasts, the more aggressive the breakouts, so I like the look of this consolidation and will wait patiently for a break. A confirmed break above 0.90 resistance zone would open up to 0.93 and a break below consolidation would be a very negative sign and send the pair down towards the 0.83 support area. However, I expect bears to defend the 0.90 level and why bulls should wait for a confirmed break above 0.90.

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