Spot Price: 1.2415
Technical Analysis:
Downside pressures continue and support at 1.2400 is close to coming back under pressure. That said this is likely to support as hourly studies are oversold and risk is for corrective rebounds intraday. Will look to sell into strength for a push back below 1.2400. The 200-day MA at 1.2315 is then key. The market strategy for the short term is to sell at 1.2430.