Longer term perspective remains as last post made about it: remember my weekly Fibo? And that I told you that under the 38.2% (around 1.3740) the pair was still bearish?, well take a look at what happened today: the pair has rebounded in the 23.6 % zone, next Fibonacci level. And that will be hour key break point to the downside this week: if the pair confirms with a daily candle opening under it, the bearish trend will be on play with no doubts here. The upside will remain contained by the 38.2% mentioned.
Turning to 4 hours, charts, indicators are a bit exhausted to the downside, and we could see some upside correction this next couple of hours, with resistances at 1.3336, 1.3380 zone, 1.3430 and finally 1.3476. Under 1.3280, the pair will try to reach today’s minimum, the zone @ 1.3225, and then 1.3190. Under this last, the downside seems quite vulnerable, and we could see some bearish momentum triggered from there.
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