International Trading


Having risen during past Asian session, pair found strong resistance at the 20 SMA with a strong bearish slope that persists: pair is back looking bearish in the 4 hours charts, with indicators heading south under their mid lines, and price approaching to yesterday’s low, also 50% retracement of the last bullish leg around 1.5560. Confirmations under that area, should signal  further falls for the upcoming session, with main support at the 1.5460/70 area, where we see the 61.8% of the same retracement, and the 200 EMA in the 4 hours charts.

To the upside, 1.5620 is key, as only above this level price could attempt a recovery towards 1.5660/80 zone.


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