After breaking key support level at 1.4700 area, and reaching extreme over sold conditions in the hourly chart, pair is attempting an upside correction, that should reach 1.4680/1.4700 the most. If pair failure to break higher, I would be selling around that level watching again for the daily lows. Also, a break under 1.4610 with strong price acceleration and high volume will suggest more downside for today, and pair should approach to the 1.4550 strong support zone.
Watch for U.S. indexes also, as a break under yesterday’s low (very close to current futures levels), could accelerate the fall.
Watch for U.S. indexes also, as a break under yesterday’s low (very close to current futures levels), could accelerate the fall.
