The pair settled below the ascending trend line in addition to the horizontal support which turns into resistance now around 1.3180. This is a negative sign that suggest we may see a retest of the majow swing low around 1.3000 area. The pair is currently correcting some of its losses before probably heading to resume the downside move today.
The trading range for the day is expected among key support at 1.2975 and key resistance at 1.3300.
The general trend over short term basis is to thedownsidetargeting1.1865as far as areas of1.3550remain intact.
|Recommendation||Based on the charts and explanations above we recommend, selling the pair below 1.3170 targeting 1.3110 and 1.3030. Stop loss above 1.3245.|