Sellers are having the ball right now. They returned control last week and after spending Monday in the 0.6900 area continued the negative trajectory yesterday. The spot moved lower driven by the renewed selling interest and tested 0.6850. Sellers preserved control in the Asian session as well. They broke through 0.6850 in the mid-Asian session and sent the rate to 1.6820, Technical indicators are flashing bearish signals. The moving averages are heading lower. MACD is in the negative area and is declining. RSI is oversold now. The resistance stands at 0.6850, the support is at 0.6800.
The selling momentum is strong enough to overcome the level 0.6800. The pair could encounter the next technical support at 0.6700.