What I see
On the daily chart, price has dropped from the resistance zone at 1.42701–1.43514 and is now testing support around 1.4000. It is currently trading at 1.40173, at the upper edge of the support zone.
Key levels
- D1 resistance: 1.42701–1.43514
- D1 support #4: 1.40142–1.39755 (the zone being tested now)
- Next D1 support: 1.38347–1.37770
My plan
I treat the 1.40142–1.39755 zone as the area where I expect a reaction. If price holds here and shows signs of a bounce, I will keep watching this zone as support. If price closes below 1.39755, I will consider this support failed and shift my attention to the 1.38347–1.37770 zone. For now I'm leaving room for a reaction and not rushing.
