Adopting a favorable reaction to yesterday's hinted negative sign on Stochastic, the pair has plummeted achieving an obvious negative daily closing below the pivotal support -turned into resistance- at 1.3230. Now, the negative divergence on Stochastic becomes clearer as seen on the provided daily chart; whist OsMA is on the way to hit (0) level. Consequently, further declines could be witnessed over intraday basis and a break below 1.3035 will assist bears to support their short positions.
The trading range for today is among key support at 1.2925 and key resistance at 1.3375.
The general trend over short term basis is to the downsidetargeting 1.1865 as far as areas of 1.3550 areas remain intact.
|Recommendation||Based on the charts and explanations above our opinion is, selling the pair around 1.3190 targeting 1.2975 and stop loss above 1.3335 might be appropriate.|