Intraday bias remains bearish as long as resistance 0.8550 holds. It hits a high of 0.85150 and is currently trading around 0.84561.
The pair gained momentum despite a dovish Fed rate cut and jumped over 100 pips.
Technicals-
The pair is trading below 34 and 55 EMA in the 4-hour chart.
The near-term resistance is around 0.84787 any break above targets 0.8500/0.8550/0.8590/0.8635.The bearish pattern from 0.92244 will get completed at 0.8375 if pair close above 0.8550. The immediate support is at 0.8420, any violation below will drag the pair to 0.8390/0.8365 (61.% fib projection)/0.8340.
Indicator (4-hour chart)
CCI (14)- Bearish
CCI (50)- Bearish
Average directional movement Index - Bearish. Overall trend is bearish
It is good to sell on rallies around 0.8487-88, with an SL around 0.8550 and a TP of 0.8380.


FxWirePro:USD/JPY hovers near a four-decade low
EUR/USD Slides After ECB Hold, Bearish Technicals Favor Rally Fades
FxWirePro: GBP/NZD gains some upside momentum but still bearish
FxWirePro: EUR/NZD firms after ECB holds rates steady at 2.25%
FxWirePro: EUR/AUD neutral in the near term, scope for downward resumption
JPY Strength Alert: USDJPY, AUDJPY, EURJPY and CADJPY Turn Extremely Bullish
Major Pairs Bias: USDCHF Bullish While GBPUSD Turns Bearish
FxWirePro: GBP/AUD downtrend loses steam but outlook still bearish
FxWirePro- Major Crypto levels and bias summary
NZDJPY Bullish Dip-Buy Setup: 93.60 Support Unlocks Path to 97
FxWirePro: USD/CAD edges lower but bullish outlook persists
AUDJPY Extends Four-Day Rally as Yen Weakness Fuels Fresh Buying Opportunity
FxWirePro- Woodies pivot (Major)
FxWirePro: AUD/USD rallies on jobs surge, heads to test key resistance
FxWirePro: USD/CNY edges higher but bulls lack punch
FxWirePro: USD/ZAR surges as rand slumps after SARB rate hold surprise
FxWirePro: USD/CNY attracts selling interest, vulnerable to more downside 



