Looking at the oscillators, Stochastic just rose above the oversold zone suggesting that prices may react positively in the intraday. The OsMA is recovering from previous troughs level and gradually rising, that suggests a pull back from support at 1.3370. The RSI (14) followed prices in the recent trading and as we can see is down trending below the line at 30 and that further supports the oversold attitude. In our opinion, downside bias prevails and we consider chances are favoring the violation of the support at 1.3370 in the medium term and next support is seen at 1.3298. However, we would be cautious due to oversold indicators and fundamental developments today, low risk reward ratio should be used.
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