Overview
As shown on today's H4 chart, the pair has opened this week below the resistance level of 173.00 which means the pair will almost reverse its bullish move this week. Today, the pair has already started its downward move approaching the support level 172.00. Currently, the pair is testing the support level. Therefore, we should stop selling now till breaking this support level and closing 4H below. In that case, the pair will continue its downward move and open the way towards the next support level of 171.50 to continue its bearish scenario, so we can suppose our first target a few pips above this level.
Resistance and support levels: R3 (174.00), R2 (173.50), R1 (173.00), S1 (172.00), S2 (171.50), S3 (170.50)