With a nice little spike to 1.6910, we will be looking for renewed downside pressure towards 1.6722 as the next minor downside target. After a minor consolidation, more downside pressure towards 1.6620 remains expected.
Ideally, resistance at 1.6910 should be able to cap the upside for now.
R3: 1.6958
R2: 1.6910
R1: 1.6886
Pivot: 1.6831
S1: 1.6797
S2: 1.6722
S3: 1.6650
Trading recommendation:
We sold EUR at 1.6900 and have placed our stop at 1.6925.
