Price is holding below both descending trendline resistance and moving average. A further drop below 1st resistance at 1.20562 towards recent swing low and 1st support at 1.20173 can be expected.
Trading Recommendation
Entry: 1.20562
Reason for Entry:
61.8% Fibonacci retracement, descending trendline resistance and moving average resistance
Take Profit: 1.20173
Reason for Take Profit:
Horizontal swing low support
Stop Loss: 1.20879
Reason for Stop Loss:
Horizontal swing high resistance
