Daily: After facing strong selling pressure at resistance 1.33. The pair has continue to break the uptrend with a . Currently, the pair has found some level of support at 1.3 which is the psychological support. From the daily view, the movement of the PA is not well defined enough, thus a more detailed view is needed for more confirmation. Although on the weekly the pair seems to be extremely and would likely to pop downwards towards 1.2675. However, the pair is likely to retrace as the market consolidates for the next move.
Using , the pair could potentially continue the dip towards 1.299 & 1.29 before it rebound further.
Things to look out for: Its important to look at how the pair react to the psychological level 1.30. If the pair dip further down, the downside target would be 1.29. Alternatively, if it found support at 1.30 the pair would likely re-bounce towards 1.31 region to retest the resistance to act as confirmation of the broken uptrend.