After topping at 1.0087 last Tuesday and having failed to remain higher, the pair gave daily closure at 1.0022 showing Inverted Hanging Man candlestick giving a reflection of bearish rejection.
Price Level 0.9960 would be the target as long as this bearish scenario remains valid by consolidation below 1.0080. However, on Friday significant bullish daily candlestick was formed leading again towards 1.0080 which may be just another good SELL entry with tight SL above 1.0110.
The pair is still trading above 0.9955 level (50% Fibonacci), which has provided temporary support for the pair last week. However, the ongoing scenario is more likely to be bearish unless 1.0110 has been broken through obviously.
Support: 1.0010, 0.9960, 0.9920, and 0.9830.
Resistance: 1.0080, 1.0100, 1.0155, 1.0205, and 1.0270.
