The pair witnessed a significant decline during today’s trading and morning trade, breaking the support area 1.3230 – 1.3210
The price is currently supported by the SMA 50 on the 4 hour frame with Stochastic is entering the oversold area …A return to the top of 1.3230 supports the possibility of a bullish move, and then the price could then target 1.3370 then 1.3515 as the second target and then the last summit around 1.3660 as the third target. A continuation of the decline and the breach of the support
area 1.3175 – 1.3160 by closing four hours might be enough to thwart the upside scenario, and then could target the support 1.3070 As a first target and the breach may extend from the downside towards 1.2915 as the second target and then 1.2780 as the third target.
