Technical Outlook and Chart /setups:
As depicted here, prices touched 1.4800 support and pulled back yesterday, leaving a doji candlestick pattern yesterday. This might suggest a change in the direction at least for short time. Therefore, it is recommended to book profits on short positions taken earlier at current levels (1.4847). Intermediary support stands unchanged at 1.4800 for now, followed by 1.4700, and 1.4600 respectively. Resistance would begin from the dropping wedge line at 1.5050/60, 1.5150/60 and ahead. Short-term aggressive traders can be looking to buy at current levels.
Trading Recommendations:
1. Book profits on short positions taken earlier.
2. Aggressive traders can enter buying now, stop is at 1.4775. Target is open.
Good Luck!
