The pair failed to settle above the several resistance levels at 1.3415 and 1.3465, and therefore returned to trade bearishly to currently move within the scope of the downside movement. This move drives us to expect that the pair could decline again in a new attempt to test areas around 1.3270 and maybe to cover the opening gap seen with the start of this week through reaching areas around the support of 1.3220. Consolidation above 1.3415 with 4-hour closing could negate our bearish outlook over intraday basisi.
The trading range for today is among the major support at 1.3145 and the major resistance at 1.3565.
The short-term trend is to the upside with steady daily closing above 1.2795 targeting 1.5135
|Recommendation||Based on the charts and explanations above, our opinion is selling the pair around 1.3350, and take profit in stages at (1.3270 and 1.3220) and stop loss with 4-hour closing above 1.3415 might be appropriate today|