Technical Outlook and Chart Setups:
As depicted here on 4H chart, the overall structure remains unchanged for the moment. Intermediary resistance is just above 1.4500 level, followed by strong resistance at 1.4700 (Fibonacci 0.618 of fall between 1.5 and 1.4170). A short term rally can materialize towards the 1.47 levels before reversing towards fresh lows. It is recommended to cover short positions from 1.45 levels and plan to sell any rallies towards the 1.46-1.47 level. Intermediary support is at 1.4170 for now.
Trading Recommendations:
Cover short positions taken earlier. Flat for now; plan to sell rallies.
Good Luck !
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