The pair is trading in a slopping channel and is now converging with price action.
100-DMA at 1.4601 is strong support on the downside, we see weakness on break below.
is also supporting trend lower, momentum with the bears. Break below 100-DMA could see test of channel base at 1.4370.
On the flipside. break above 20-DMA could see test of 1.4975 (channel top)
Support levels - 1.47, 1.4615 (38.2% Fib retrace of 1.3626 to 1.5226 rally), 1.4601 (100-DMA)
Resistance levels - 1.4770 (20-DMA), 1.48, 1.4849 (nearly converged 23.6% Fib and cloud top)
Watch out for break below 100-DMA at 1.46 to go short, target 1.4475/ 1.4375