Bears keep trending pressure on a key support at the area of lower Bollinger band (1.2830), that guards the major from a deeper drop, that correspondingly looks very viable at the moment.
We note strong local dynamic support 1.2808 (lower Bollinger band), that again (as well as yesterday) stands 30 pips lower from the daily key zone. This tactics of “pushing through” also signifies prevailing of sellers.
Intraday market may stay for a while within the range of lower Bollinger bands (1.2817-1.2856), since we note a correction of ADX indicator.
So, we expect trading in the 1.2817-1.2856 range with following drop to the 27th figure.
Shorts from the 1.2856 level towards 1.2817, 1.2800, 1.2750.