Technical Outlook and Chart Setups:
4H chart view has been depicted above. Kindly note that the short-term support line has been broken and it is quite probable now that a support will be sought at the longer support line. This is passing through 99.50 level at the moment and the Fibonacci extensions are pointing towards 100.13 level. Keeping these two views in mind, it would be safe to stay short and use intraday rallies as opportunities to build on short positions.
Trading Recommendations:
Stay short for now, move down stop to 102.50, target at 100.00 and below.
Good Luck!
