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 1.0100. However, on Friday significant bullish daily candlestick was formed leading again towards 1.0080 then on Monday we had daily closure at 1.0106 which is threatening the bearish view.
It's important to note that the current situation isn't clear since the pair is consolidating above 1.0135 (Yesterday’s high) despite the bearish price action that Yesterday's candlestick gave us.
The pair is still trading above 0.9955 level (50% Fibonacci), which has provided temporary support for the pair last week. However, the best option now is to stay out of the market until new price action takes place.
Support: 1.0100, 1.0080,1.0010, 0.9960, and 0.9920.
Resistance: 1.0155, 1.0205, and 1.0270.
