Technical Analysis: Bias Bearish
- Price breaks below 200-DMA at 1.3156
- Recovery attempts rejected at 5-DMA at 1.3185
- Momentum indicators show highly bearish bias
- RSI well below 30 levels shows bearish bias
- MACD below zero, biased lower and we see -ve DMI dominance
Support levels - 1.3038 (50% Fib), 1.2955 (Nov 15 low), 1.2845 (61.8% Fib)
Resistance levels - 1.3160 (200-DMA), 1.3185 (5-DMA), 1.3231 (38.2% Fib)
Good to go short, SL: 1.3185, TP: 1.3040/ 1.30/ 1.2955/ 1.29/ 1.2845
- Price breaks below 200-DMA at 1.3156
- Recovery attempts rejected at 5-DMA at 1.3185
- Momentum indicators show highly bearish bias
- RSI well below 30 levels shows bearish bias
- MACD below zero, biased lower and we see -ve DMI dominance
Support levels - 1.3038 (50% Fib), 1.2955 (Nov 15 low), 1.2845 (61.8% Fib)
Resistance levels - 1.3160 (200-DMA), 1.3185 (5-DMA), 1.3231 (38.2% Fib)
Good to go short, SL: 1.3185, TP: 1.3040/ 1.30/ 1.2955/ 1.29/ 1.2845