Technical Outlook and Chart Setups:
As depicted here, the single currency pair registers fresh lows below the 1.4800 mark. Also note that the 1.4830/40 region, which was previously support will act as resistance now. Immediate support is at 1.4720, followed by 1.4610 and 1.4500 respectively. Immediate resistance will be the past support turned resistance region at 1.4830/40 levels. It is recommended to hold short positions taken last week. Furthermore, intraday rallies towards the 1.4820/30 levels should be sold as well.
Trading Recommendations:
Hold on to short positions taken earlier, sell further intraday rallies towards the 1.4820/30 levels, stop at 1.4950, target is at 1.4600 level.
Good Luck !
