intraday bearish scenarios to H4 support at 1.2939
Although weekly price indicates a shift to 1.3250ish, daily action is capped by Quasimodo resistance at 1.3173, threatening moves as far south as 1.2769/1.2846.
Against the backdrop of higher time frame activity, the 1.30 figure on the H4 time frame presents robust support to keep a tab on in early trade this week, knowing it joins with Quasimodo support at 1.3004. Consequently, buyers could make a stand from this region and attempt a recovery. Breaking 1.30, however, shifts focus towards intraday bearish scenarios to H4 support at 1.2939.
Against the backdrop of higher time frame activity, the 1.30 figure on the H4 time frame presents robust support to keep a tab on in early trade this week, knowing it joins with Quasimodo support at 1.3004. Consequently, buyers could make a stand from this region and attempt a recovery. Breaking 1.30, however, shifts focus towards intraday bearish scenarios to H4 support at 1.2939.