Technical outlook and chart setups:
Structurally, there is no change as depicted here in the daily chart. Support is at 1.4460/1.4500 and lower, while daily chart resistance is at 1.5, 1.5050 and higher. Bears are in control at the moment and determined to take prices lower towards 1.4500/1.4450 levels. It is recommended to remain short and add on intraday rallies towards 1.4600/1.4650 from here on. It is quite possible to break down 1.4200 levels which is the major swing support, but that probability shall be discussed later.
Trading recommendations:
Remain short, move Stop to breakeven, target 1.4500
Good Luck!
