Technical outlook and chart setups:
The single currency pair falls to initial support around 1.4300 as discussed yesterday. If selling has been made at higher levels, it is recommended to book partial profits. Resistance remains intact at 1.4530 level, while next support level is around the 1.4200 mark, followed by 1.4150 (the counter trend support line is passing across). A temporary pullback is expected higher around 1.4350 level before the resumption of fall towards 1.4200 from here on. Therefore, it is recommended to sell rallies and hold short positions for now. Bottom line: Looking lower till 1.4530 remains intact.
Trading recommendations:
Remain short, stop is at 1.4530, and target is below 1.4.
Good Luck!
