A break the support level of 1.3100 was sufficient to activate the bearish scenario and push the price aggressively towards its first target at 1.3000 … The pair is currently supported by the bullish trend line shown on the chart as momentum indicators are moving within the oversold zones. The bearish trend is shown in yellow, and the pair can move to its second target around 1.2890 support and then support 1.2780 as the third target.
A break of the last 4-hour closing above 1.3130 might be enough to end the downside scenario and the pair could resume its bullish trend to be the next targets around 1.3340 resistance as the first target, then 1.3480 as the second target and 61.8% for the general downside wave around 1.3630 as the third target
