Pivot: 1.5400
Our preference: SHORT position below 1.54 with targets at 1.48 or even 1.4435.
Alternative scenario: A break above 1.54 would call for further upside to 1.57.
Comment: the pair stands below its resistance and should face further weakness as the RSI stands below its neutrality area and is reversing down.
Trend: ST Ltd Downside; MT Range, we have been bearish since 25 JAN 2013 (1.5811).
Key levels Comment
1.5915*** Horizontal resistance
1.5700*** Horizontal resistance
1.5400** MT pivot point
1.5108 Last
1.4800*** Horizontal support
1.4435** Horizontal support
1.4200*** Horizontal support
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