Resistance: 1.2975 moderate/1.3076 strong/1.3142 moderate
Support: 1.2909 minor/1.2808 minor
The
Bearish Engulfing in Hourly charts is a confirmation of the overall
bearish trend. With a moderate resistance at, 1.2975 consider shorts
from the said price with a stop loss above it. Alternatively stops could
be placed above the pattern high. Immediate objective is 1.2909, break
of which opens us to a sell-off to 1.2808.
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