General overview for 04/04/2014 10.50 CET

There is not much of the downside pressure so far, but it still looks promising to break through the technical support zone at the level of 141.96. If this level is broken, then weekly pivot at the level of 141.22 will be tested next. On the other hand, the key level to the upside is intraday resistance at the level of 142.65. A breakout higher would put recent swing high at the level of 143.47 to the test and even a possible breakout. Nevertheless, the current bias is bearish and more downside is being expected in this pair.

Support/Resistance:

143.78 - Techncial Resistance

143.47 - Swing High

143.12 - WR2

142.65 - Key Level

142.47 - WR1

142.29 - Intraday Support

141.96 - Technical Support

141.22 - Weekly Pivot

Trading recommendations:

Swing/Position traders should keep the sell orders opened and keep an eye on the level of 141.96 as this level opens the gate to the even lowers levels.