Price action in the pair has dipped below daily cloud. 5-DMA has shown a crossover on 10-DMA.
Stochs are biased lower, but have approached oversold levels so advise caution.
is biased south and the line shows a crossover on the signal line.
Immediate support for the pair is seen at 74.20 (Feb 29th lows) ahead of 73.94 (Mar 1st lows).
On the flipside resistance is seen at 75 (session highs), 75.40 ( support turned resistance) and 75.48 (5-DMA).
Good to sell rallies around 74.60/70, SL: 75.40, TP: 74/73.65/73.55
Momentum with the bears. Book partial profits, lower trailing stops to 74.10, target 72.40