Pair unable to extend gains beyond 86.35 levels which is also 61.8% Fib retrace of 90.72 to 79.21 fall.
- Pair rejected at strong trendline resistance on Tuesday, sees big slump.Spinning top formation evidenced when price action reached falling trendline resistance.
- The following Technicals indicators support further downside:
- Stochs on daily charts show bearish crossover from overbought levels
- RSI has turned lower from near 60 levels and points south
- Minor support is seen at 83.60 levels, breaks below could see falls upto 82.85 levels.
Recommendation: Good to sell rallies around 84.20, SL: 84.90, TP: 83/82.85
