The currency pair trades flat after a massive sell-off. It hit an intraday high of 0.88248 and is currently trading around 0.87985. The intraday bias appears to be bearish as long as the resistance 0.9000 holds.
Technical Analysis and Resistance Levels
The pair is trading below the 34-EMA and 55-EMA on the 4-hour chart indicating a bearish trend. The immediate resistance is at 0.8820 any break above targets 0.8850/0.8890/0.8940/0.9000/0.9035/0.9070/0.9100/0.9150/0.9200/0.92250/0.9275/0.9300.
Support Levels and Potential Declines
On the downside, near-term support is around 0.8720, any violation below will drag the pair to 0.8660/0.8600.
Bullish Indicators
CCI (50) - Bearish
Directional movement Index - Neutral
Trading Strategy Recommendation
It is good to sell on rallies around 0.881-20 with a stop-loss at 0.8850 for a TP of 0.8720.


CAD/JPY Dips on Soft Canadian CPI: Buy the Dip to 115?
FxWirePro: USD/ZAR attracts selling interest, could be on verge of a bigger drop
FxWirePro: NZD/USD weakens as RBNZ quashes rate hike talk
FxWirePro- Major Pair levels and bias summary
FxWirePro- Major Pair levels and bias summary
FxWirePro: USD/CAD pauses decline,critical support lies ahead
FxWirePro- Major Crypto levels and bias summary
FxWirePro: GBP/AUD gives up early gains after UK GDP shock
FxWirePro- Woodies Pivot(Major)
FxWirePro: USD/CNY outlook weaker on renewed downside pressure
FxWirePro: EUR/NZD advances as kiwi weakness after RBNZ's Breman comments
FxWirePro: EUR/AUD trends higher, but faces potential pitfalls
NZD/JPY: Bearish Momentum Builds — Sell the Rallies Below 90.90 for a Slide Toward 88.00
EUR/JPY Retreats: Yen Strength Caps Rally, Bearish Bias Intact Below 183.15
FxWirePro: USD/JPY slips as yen gains ahead of BOJ meet
FxWirePro: GBP/AUD consolidates around 2.0145, maintains bullish bias 



