Overview
In H4 chart we can see that the price was about to continue its bearish move in case of breaking the support area of 170.70-171.00 yesterday and closing below it. Today and as shown on the H4 chart, the pair has already broken this support area and currently is trading below to continue its bearish trend. Therefore, we suggest more bearish signals now with the first target few pips above the support level of 170.00, then we should stop till testing this support level. In case of closing below this level, this gives us a new opportunity for more bearish move till reaching the support level of169.70 and closing below it.
Resistance and support levels: R3 (172.75) R2 (172.00) R1 (171.50), S1 (171.00), S2 (170.70), S3 (170.00).
