Current level at 10:03 CET is 1.5067, trading above the daily pivot point of 1.4946 and also above the hourly Ichimoku cloud top at 1.4820. The break of the previous high of 1.4966 yesterday has set the focus on the Fibonacci 38.2 percent projection target at 1.5730, measured over the 0.8230 - 1.3668 range. However, this does not necessarily mean that the journey will be directly up. The 14 day RSI is now at 70 percent and we are trading over 6 percent above the 200 day moving average. Thus the air is getting rather thin up here. Pivot point related resistance levels for today are 1.5113 and then 1.5216. Support levels are at 1.4844 and then 1.4677.
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