- Pair’s retreat of Asian session high of 1.2977 if followed by a break below 1.2935 (yesterday’s low) coupled with an hourly falling channel formation would open doors for 1.2875 levels.
- The hourly money flow indicator also stays in favor of a bearish move.
- On the higher side, a minor spike above 5-DMA level of 1.2993 could be seen, however, bearish invalidation is seen only above 1.3056 (July 26 low).
