Technical outlook and chart setups:

The single currency pair has held resistance at 132.80/133.00 levels well. Furthermore, a potential right shoulder seems to have been carved out at 132.20 yesterday. Still a possibility remains of a 133.40 high, which is also the 0.786 retracement level from the fall from 132.75 to 131.18. It is very much recommended to remain short and add further on a rally towards 132.40 level. Resistance remains fixed at 132.80/133.00; while immediate support is at 129.50. A push below 131.18 would accelerate fall towards sub 130.00 levels, where the immediate trend line support will be met. A break of 130.00 would further see 128.50 level on lower side. Looks like a major top is in place at 132.75 for now.

Trading recommendations:

Remain short, stop is at 133.10, and target is open.

Good luck!