Short-term bearish pressure intact.
The pair has ignored upbeat GDT auctions data and has resumed weakness after brief bounce.
Price action has slipped below daily cloud and we see scope for further weakness.
Next major support below 61.8% Fib lies at 78.6% Fib at 0.6541. Breach there could see dip till 0.6520 (Oct 26 low).
21-EMA at 0.6750 is strong resistance. Bearish invalidation only above 200-DMA .
Support levels - 0.66, 0.6541 (78.6% Fib), 0.65
Resistance levels - 0.6679 (5-DMA), 0.6750 (21-EMA), 0.6813 ( 200-DMA )
Good to go short on upticks, SL: 0.6680, TP: 0.66/ 0.6540/ 0.65
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