Interesting short-term view on this pair, and there may be potential gains as you’ve identified by going short. For our analysis, we went for a longer term view. We’ve identified key support and resistance levels, of which, our resistance level at 249.27 is supported by a horizontal overlap resistance, 50% Fibonacci retracement and a 61.8% Fibonacci extension. Also, our major support level at 191.99 is supported by both a horizontal swing low support and a 100% Fibonacci extension.
Do let us know of what you think our idea!