The negative pressure on the pair continues to move below the bullish trend line shown on the 4 hour chart and below the SMA 50 ending the bullish scenario that achieved its first target at 1.3340 … although the breach of this trend signals further downside but the trend structure is still bullish Supported by the positive cross of Stochastic within the oversold area, so it is better to remain neutral until the exit from the area identified on the chart to confirm the trend.
Going back above 1.3245 might be a good sign for resuming the upside move to be the next targets around the resistance 1.3340 as the first target and then the 1.3480 as the second target and 61.8% for the general downside wave around 1.3630 as the third target.
A breach of support 1.3110 – 1.3100 could push the pair towards further support towards 1.2990 as the first target and then support 1.2880 as the second target at least.
