On the 1H timeframe, price is showing strong bearish correction. A pullback to the resistance zone at 1.35, which coincides with the 61.8% Fibonacci retracement, and a break below downside confirmation at 1.345 could present an opportunity to play the drop to the resistance-turned-support zone at 1.342. Price is holding below ichimoku clouds and 20 EMA, supporting our bearish bias.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.