The pair has slipped 5-DMA at 123.90, and finds next strong support at 123.20 ( base).
formation evidenced on Friday's trade, pair unable to take recovery beyond the 125 handle.
Price action well below the cloud and major moving averages biased lower. Break below 123.20 could see test of 122.45 levels (Feb 24th lows).
Good to sell rallies around 123.60 levels, SL: 124.50, TP: 123/122.45
R1: 123.90 (5-DMA)
R2: 124 (psychological level)
R3: 124.61 (Feb 24th highs)
S1: 123.20 ( base)
S2: 123 (psychological level, Feb 23rd low)
S3: 122.45 (Feb 24th lows)