The best percentage price meeting target is 23.6% retracement on either side of break out of .
We could foresee retest of 0.9542 areas (23.6% fibo) most likely occurrence.
Currently, the oscillator is a clear downward convergence with the steep declining prices both on daily and weekly charts.
While strong signs of selling pressure on slow curve on as there is clear %D line crossover above 80 levels which is an overbought zone.
Both Intraday and EOD charts signal flaws in this pair that would plunge down upto 0.9542 levels.
We observed the pair has currently been unable to breach and sustain resistance where prices were rejected at 0.9656. Hence, it is advisable to short near month’s for the targets of 60-65 pips with strict stop loss of 30-35 pips which would act as a resistance again, thereby risk reward ratio would be 1:2.