The pair declined sharply to reach now areas around 1.0185 which separates between providing another bullish attempt or testing areas around 1.0070 again. Stochastic is negative, while RSI returned to settle below the 50-point level again. Therefore, we expect the pair to decline again; however, consolidation below 1.0185 confirms our expectations. Stability below the top of 1.0318 is sufficient to support the suggested bearishness. Consolidation above 1.0305 should negate the suggested downside movement.
The trading range for today is among the major support at 1.0025 and the major resistance at 1.0375.
The short-term trend is to the downside as far as 1.0665 remains intact targeting 0.9000.
**New York Candlesticks**
|Recommendation||Based on the charts and explanations above, our opinion is selling the pair around 1.0205, and take profit in stages at (1.0070 and 1.0025) and stop loss with 4-hour closing above 1.0305 might be appropriate|