In the past, 1304.66 served as a very solid Support level being retested a couple of times and offered a wave of buying sensitivity whenever price tapped this level. It as however breached at the beginning of the month and holds great potential for being a resistance level. With appropriate confirms on this level, short positions will be opened to take the pair lower. It is just a matter of waiting it out. Getting a third touch reaction off the trendline will serve as additional confirms
Commentaire:
Trendline broken. Bias no longer bearish