Technical outlook and chart setups:
The single currency pair is testing immediate line of support at 1.4620/30 levels at the moment. A bullish bounce here would take the pair towards 1.49 and higher; while a break would be delaying matters for a while. It is still recommended to hold on to long positions and add further on a trendline bounce from here on. Immediate price support is at 1.4580, followed by 1.45 and 1.44; while intermediary resistance is at 1.48 level. A major downtrend line is also being tested on the larger time frames. All these factors combined are hinting towards a possible rally ahead.
Trading recommendations:
Remain long, stop is at 1.4580, and target is open.
Good luck!
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