As mentioned in our TA of yesterday, price tested 1.24200 resistance by breaking of the rectangle – triggered by the US CPI Data –
However, it failed to break above 1.24200.
The pair is consolidating again. The Main Trend is Bullish.
1.23900 is the intraday support.
On the downside: 1.23600 and 1.23300 are the key support levels. Break below 1.23900 may lead the price towards 1.23300 support.
On the upside: 1.24200 and 1.24500 are the key resistance levels. If the price fails to break below 1.23900, 124200 and 1.24500 will be the target levels.