The cross rejected at 100Dsma and changed the direction towards south. The cross has been falling for 2 consecutive days. It is approaching the support zone between 1.3520 and 1.3490. In case of a daily close below 1.3490, bears will tighten the grip aiming at 1.3420, and 1.3385. The real panic will be triggered below 1.3385 towards 1.3340 and 1.3260. Earlier, we recommended buying between 1.3450 and 1.3400 with sl 1.3385 for 1.3700 and 1.3800. Ahead of today’s series of data from the eurozone, the cross is likely to touch either 1.3700 or 1.3490. Intraday support is found at 1.3520. Bears will aim at 1.3470, 1.3420, and even 1.3400 in case 1.3520 gets taken out. If the support holds, bulls will aim at 1.3600 and 1.3650. In case the cross falls within today’s session, risky traders can buy between 1.3420 and 1.3400 with strong sl 1.3380. In the four-hour chart, the higher lows and higher highs formation still exists. Until the pair closes at 1.3670, a trading range will be framed between 1.3670 and 1.3400. Bulls must close above 1.3670 to regain their strength.
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