Pair unable to break channel top resistance, daily cloud also weighs on the upside, reinforces downside, currently at 130.73.
We have evidenced formation of subsequent , gravestone on Feb 4th and 5th trades.
has turned lower after peaking at 65 levels and Daily Stochs have also edged lower into neutral from overbought territory.
Price action neatly converging with and Stochs and momentum slowing on - support downside.
Immediate resistance is seen at channel top by 131.85, while support is located at 129.80 levels.
We would short rallies around 131 levels, SL: 131.90, TP: 130/129.80/128