The pair succeeded in re-testing the broken trend line from below seen on the main daily chart, where the bearish pattern of the four-hour candlesticks started to be formed. Thus, possible bearish actions could be witnessed today, supported by negative sign appearing on Stochastic.
The trading range for today is among key support at 122.10 and key resistance now at 126.80.
The general trend over short term basis is to the downside, targeting 115.00 as far as areas of 132.50 remain intact.
Support124.15123.60123.15122.80122.10Resistance125.00125.25125.50126.30126.80RecommendationBased on the charts and explanations above our opinion is, selling the pair from 124.70 targeting 122.80 and stop loss above 126.30 might be appropriate.