The price has broken our key support level triggering a bearish move from here. We look to sell on strength below 112.65 resistance (Fibonacci retracement, pullback resistance) for a drop towards 110.90 support (Fibonacci retracement, horizontal overlap support).
RSI (55) sees bearish divergence signaling that a strong reversal is impending. We also see that is has dropped below 50% meaning it's the start of a strong change in momentum.
Sell below 112.65. Stop loss is at 113.51. Take profit is at 110.90.
