Technical Outlook and Chart Setups:
Analyzing the price trading range for the last 3 trading sessions, we can find a clear range setup or consolidation. A breakout towards the higher side will make it possible to place resistance at 102.00 level. The probability of a north side breakout seems to be less at the moment. Fibonacci 0.786 resistance of the recent downswing is placed from 102.00 to 94.00 levels. Bearish indicators are most probable at this moment, at least in the form of retracement that are heading towards fresh lows.
Trade Recommendations:
Remain short, stop at 102.00, target open for now.
Good Luck!
