Should the market break above the level in the week ahead, there may be further upside scope for a test of resistance at 1.2580 (50-week EMA). Today, dips may encounter support at 1.2340 (9-day EMA).
Asian stocks are trading in green this Monday. S&P/ASX 200 is trading up 10.54 points, or 0.24% at 4400.50, while Hang Sen 40 is up 66.22 points, or 0.32% at 20696.00. Markets in Japan are closed for holiday.