The pair broke above resistance levels and found consolidation at a major resistance level around the 136 price and has bounced off both the trend line and resistance level.
Negative divergence also formed on the RSI, which has already broken out of the trend. And indecision candles formed around 135.45 price. A break below the 133.45 level creates a good shorting opportunity and target 1 would be set at 131.63 price. And MAY continue down to 129 price if there is good indications of continuing downwards patterns.
Also a target of 38.2 level is on the books, which could be a further decline on the part of the pair.
Negative divergence also formed on the RSI, which has already broken out of the trend. And indecision candles formed around 135.45 price. A break below the 133.45 level creates a good shorting opportunity and target 1 would be set at 131.63 price. And MAY continue down to 129 price if there is good indications of continuing downwards patterns.
Also a target of 38.2 level is on the books, which could be a further decline on the part of the pair.