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Well, no much difference form yesterday’s post here, the pair remains bearish despite yesterday’s spike to our last resistance level at 1.2660. Remember I always pay attention to the 20 SMA? (red here in the chart) well, see how it lost some bearish momentum and begins to turn flat. If price manages to close the day above it, will be a good fist signal of turning up. But well, we have to wait for that. Anyway, the pair is quoting just under our first resistance level, around 1.2570, followed by the 1.2600/20 zone, and above the 1.2660. Clear break of that, will take us to 1.1.2720, 1.2784 and 1.2820 roof of the daily descendant channel. Supports from actual price, will be at 1.2510, followed by the 1.2480/90 zone, 1.2458, 1.2423 and finally 1.2388.
