Narrow range trading, shaped in tight Doji was seen in Asian / early European trading.
Long-legged Doji was left on Tuesday and signaling that two-day fall from double upside rejection at 1.2518/22 might be stalling.
No stronger signs of recovery while the upside remains capped by 10SMA (1.2408) and falling hourly cloud (1.2402/34) maintaining pressure.
On the other side, rising 20SMA (1.2322) continues to underpin and guarding pivotal support at 1.2300 (Fibo 38.2% of 1.1915/1.2537 upleg).
No clear near-term direction while the price holds between 10 and 20SMA’s.
Firm break below 1.2300 would signal extension of pullback from 1.2537/22 tops, while lift above 10SMA would signal higher low and shift near-term focus higher.
Res: 1.2408, 1.2434, 1.2474, 1.2522
Sup: 1.2362, 1.2322, 1.2300, 1.2226
