“Intraday bounces were rejected around 1.2190 now immediate resistance. The technical picture in the short term remains bearish, as the price accelerated below its 20 SMA whist indicators continue to head lower despite in oversold levels”.
“In the 4 hours chart indicators resumed their slides after limited upward corrections early Monday, with RSI heading south around 24”.
“Markets will close earlier on Wednesday and remain closed on Thursday, which means little action should be expected across the forex board.
Support levels: 1.2150 1.2120 1.2085
Resistance levels: 1.2190 1.2225 1.2250”
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