Forecasts confirmed – 1.0230/20 resistance held back further growth. The price bounced down and is now testing 1.0000/20 support, mentioned earlier as of the targets for decline. Indicators suggest further dissension too., so the next target may be found at 0.9930/00 level. At the same time currently tested support is a strong barrier, which can trigger a long-term consolidation within 1.0000 – 1.0080 range. Bearish scenario seems more possible, although it may cancel should the price retrace above 1.0130/50 level.     

Analysis prepared by:

Arkady Nagiev
Forex4you analyst