Support area at 1.5820 was broken. It was key level which stopped bulls and bears many times.

Setup of EMA 8/21 and respecting them by price points out bearish trend so the break is not a surprise.

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Some of aggressive traders may have entered short positions just after break but more conservative ones can wait for bullish correction and another test of broken level which now should be new resistance.

The closest target for opening shorts should be near 1.5400 support area which was working as support earlier.


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