Daily Fixation below 1.3850 gathered significant bearish pressure enough to breakdown the lower limit of the daily bullish channel.
At the end of the previous week, there has been a minor Intraday Demand level expressed at 1.3750 (the depicted uptrend line ) which paused the recent slide off 1.3965.
Four-Hour candlestick fixation above 1.3790 signals a temporary bottom that will target at 1.3850 initially again.
Price Level 1.3850-1.3870 remains a significant supply zone. It provided a valid SELL entry at the previous retesting on March 24.
On the other hand, failure to fixate above 1.3790 will expose the recent low established at 1.3700.
A slide below which opens the way towards lower lows located at 1.3660 and 1.3640.
The material has been provided by InstaForex Company - www.instaforex.com
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