The pair is trading with a bias, technical studies support further downside.
Price action has dipped below daily Ichi cloud and 23.6% Fib retracement levels.
divergence on seen. Further, is sharply lower and below 50 levels.
Momentum studies are heavily . We see -ve DMI dominance and supports downside.
Support levels - 1.6355 (38.2% Fib retracement of 1.4534 to 1.7480 rally), 1.6228 ( 200-DMA ), 1.6007 (50% Fib)
Resistance levels - 1.6761 (100-DMA), 1.6782 (5-DMA), 1.6861 (20-DMA)
Good to go short on rallies around 1.6650/60, SL: 1.6770, TP: 1.66/ 1.65/ 1.64/ 1.6355
Recovery capped below 5-DMA.