The price shot up and reached our profit target perfectly yesterday. We now turn bearish below the 0.7240 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a drop to the 0.7176 support (Fibonacci retracement, horizontal overlap support).
Stochastic (21,5,3) is seeing strong resistance below the 92% level.
Sell below 0.7240. Stop loss at 0.7285. Take profit at 0.7176.
The material has been provided by InstaForex Company - www.instaforex.com