As expected, the failure of the breakage through the support at 1.3540/50 has grounded the rollback till the resistance at 1.3600, which became the top edge of the range of the price’s lateral consolidation. At the current moment the trading is carried at 1.3580/70. The indicators maintain and also strengthen their values in favor of the “bearish” preferences, because the SS reversal downward joined to the values of both R% and MACD values of the descending direction. It’s obviously necessary to keep in force the expectance of the price decrease lasting. The signaling moment about the further implementation of the “bearish” scenario is still the breakage through the support at 1.3540/50. Id it happens so the exercise of another support at 1.3500/1.3490 will occur in the shortest possible time.

Analysis prepared by:

Arkady Nagiev
Forex4you analyst