Near resistance, looking to short from here

Monthly chart for this pair is still bearish, as we are also reaching a major resistance level, which also lines up with the 200 moving average on the weekly chart. Target would be for price to fall back down around .88550 to .88000.

Yorum:

So far, the weekly candle is rejecting hard off the 200 moving average. This is the type of price action needed to confirm this setup.