Price has broken a previous strong support level and we are now bearish below 1.0045 (multiple overlap resistance, Fibonacci retracement, price action) for a drop to 0.9941 (Fibonacci projection, Fibonacci retracement).
RSI (34) is seeing multiple descending resistance lines holding price down.
Sell below 1.0045. Stop loss at 1.0134. Take profit at 0.9941.
The material has been provided by InstaForex Company – www.instaforex.com
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