By
The range is formed by the 38.2 percent and the 23.6 retracements of the rise from $1.1855 to $1.2420.
The contract failed to break a falling trendline at its first attempt. Following its stabilization around a support at $1.1990, it may test the trendline again, which crosses the target zone.
A break below $1.1990 could cause a loss to $1.1855.
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