In this risk aversion Friday, and after posting a fresh high around 1.2722, pair as turned back south, with both 1 and 4 hours indicators, pointing for a deeper corrective movement: pair has broke an ascendant short term trend line clear in the hourly chart, and both momentum and RSI are crossing upside down their midlines; 1.2630 area is now key, as per 20 SMA in the 4 hours charts barely above that price; a break lower, should signal a continuation towards the 1.2590 area first, and even lower, near 1.2550; further falls are not seen at this point.

Immediate resistance for the pair lies now around 1.2680, so an acceleration above that level should probably be advancing a continuation towards mentioned intraday high above 1.2720.

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