Technically, price accelerates lower approaching 1.6770, neckline of the double roof figure clear in intraday charts. The 4 hours chart also shows price breaking below its 20 SMA and indicators turning lower, approaching their midlines still in positive territory. A test of the critical support seems likely yet a break below it is required to confirm further losses, looking then for a test of the 1.6700/20 price zone.
A bounce from current levels on the other hand, needs certain stability above 1.6800 to deny the downside and favor a recovery up to 1.6840 first, while once above this last, towards 1.6870.
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