Technical outlook and chart setups:
A short term 1H chart view is presented here. It is indicating consolidating price movement between 1.4175 and 1.4275/1.4300 at the moment. Intermediary support is at 1.4175 and a break below would target 1.4100 level before a meaningful counter trend rally can be expected. Immediate resistance is seen at 1.4350/60 levels, followed by 1.4450 and higher. A break above 1.4300 region again would push prices to at least 1.4400/50 from here. With not much conviction seen, it is recommended to refrain from taking fresh positions at the moment. Please trade on a clear breakout on either direction mentioned above.
Trading recommendations:
Existing buy positions can be held with stop at 1.4150 and target at 1.4400/50. Take fresh positions in the direction of breakout.
Good Luck!
