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The pivotal resistance levels published during the previous analysis, located at 1.3110, managed to limit the bullish tendency and forced the pair to retreat again to touch the target published in the previous analysis, 1.3040, posting a low of 1.3043.
Technically, we tend to be negative in our trading, relying on trading stability below the aforementioned resistance, which is accompanied by a gradual loss of the bullish momentum.
Confirmation of breaking 1.3030 / 1.3020 acts as a signal to continue declining, with official targets 1.2990 and 1.2950, respectively. Surpassing the resistance level 1.3120 negates the I the bearish scenario completely and leads the pair to a bullish path with targets starting at 1.3165 and extending to 1.3205.
| S1: 1.3020 | R1: 1.3090 |
| S2: 1.2995 | R2: 1.3135 |
| S3: 1.2955 | R3: 1.3135 |
