We are short | 14 June 2023

Technical observation

On the chart above, the price bounced within the resistance zone 1.1048-1.1075 and since then it has been trading with an increasing bearish bias, today I expect a further surge to the lower side and in case you are already holding short positions with this pair, I recommend that you remain in the trade with your take profit at 1.0319 and stop-loss at 1.1362. If there is a clear break below the level 1.0319, I expect the value of this pair to plunge towards the supportive level 0.9533 or lower. As it is on the chart above, I can only recommend bullish positions above the zone 1.1048-1.1075.

Trade recommendation

Remain short with your take profit at 1.0319.