Currency Pairs Technical Analysis: Technical Analysis favors the bearish as dumping pressure mounts

· Major Pairs declines further, and bullish pressure continues to relapse.

· The current price action and indicators suggest that further bearish is active.

· 0.8380 shows a strong defence against the traders selling.

Thursday's Event’s saw the Currency Pairs slightly dropped by 0.22% below 0.8350. Observing the technicals analysis it continues to decline as bearish momentum increases, the cross must be the 0.8270 line to prevent taking a loss.

The Relative Strength Index (RSI) is at this moment at 36.5 and is reducing with an increasing momentum in the Non-positive region, showing that bearish pressure is increasing. Also, the Moving Average Convergence Divergence (MACD) also says that bearish pressure is increasing, as the histogram is red and increasing with speed.