The previously mentioned reversal Double-Top pattern achieved its projection target near price level of 1.6470.
The breakdown of 1.6530 (50% Fibonacci level) exposed 1.6470 (61.8% Fibonacci) shortly after. However, the price zone 1.6470-1.6530 (50% - 61.8% Fibonacci levels) provided considerable bullish pressure on the pair. The bullish pullback took place off 1.6470.
The price zone of 1.6630-1.6670 remains the nearest Intraday resistance which comes to meet the upper limit of the ongoing bearish channel initiated on February 17.
Any further visits will probably offer a valid SELL entry with stop-loss located just above 1.6700.
On the other hand, daily fixation above 1.6680 will probably pause the ongoing bearish momentum applying some bullish pressure probably towards 1.6780-1.6800.
