The pair finally broke below 1,62 yesterday to reach 1,6110 near the daily 200 moving average. Considering this breakout, the pressure is now on the downside.
Next target comes in at 1,6060 (daily bollinger band) before a continuation towards the 1,59 area (weekly bollinger band).
Only a break back above 1,6320 (yesterday’s high) would alleviate the downside pressure.
Provided by atf-forex-trading.com