The pair’s trading settled below the resistance level after achieving the first target 131.15 to notice the negative and sharp rally around 127.60 facing an initial support level against the price falling.
The stability below the resistance level makes the intraday bias is bearish, but for achieving more negativity in today’s trading the pair must break below 127.30 to reach 125.55 which represents 50 % Fibonacci.
In case the failure in breaking the previous level, we expect the fluctuation of the price to limit the trading between 127.30 and the resistance level.
Expected trading range is between 129.60 and 125.50
Expected trend: bearish