Overview
As shown in the today's H4 chart, this week the pair has opened below the Resistance level of 156.45, which means the pair will almost reverse its bullish move this week. Today the pair has already started its downward move after it had hit the Support level of 155.75 to take a slightly downward move. Currently the pair is testing the Support level of 155.75. Therefore, we should stop selling now till breaking this Support level and closing 4H below. In that case the pair will continue its downward move and open the way towards the next Support level of 155.00 to continue its bearish scenario, so we can suppose our first target few pips above this level.
Resistance and support levels: R3 (157.45) R2 (156.75) R1 (156.45), S1 (155.75), S2 (155.00), S3 (154.60).
