Renewed break above daily Downtrendline off year high (1.2792 today) has sent the pair currently back in channel off 1.2522 (see graph).
1st Support area at 1.2909/ .00 (daily envelope/ previous MT reaction high), with next levels at 1.2871 (daily ST MA↑), ahead of 1.2835/ .29 (yesterday low/ daily MT MA↑): tough on 1st tests. 1.2760 = daily Stop And Reverse: ideal area to stay above to keep current better mood on € intact and buy on dips strategy.
Resistance area at 1.2958 (yesterday high), with next levels at 1.2979/ .84 (year high/ daily envelope), ahead of 1.3000/ .3006 (daily Starc top + psycho/ 2nd target of MT daily Double Bottom off 1.2323), where ST pause favored, amid ST overbought readings.
| SUPPORT | RESISTANCE |
| 1.2909/ .2900 (daily envelope/ see above) | 1.2958 (yesterday high) |
| 1.2871 (daily ST MA↑) | 1.2979/ .2984 (year high/ daily envelope) |
| 1.2835/ .29 (yesterday low/ see above) | 1.3000/ .3006 (daily Starc top/ see above) |
For in-depth insight on other currency pairs:
- USD/YEN: (116.60) Back neckline of mt double top
- EUR/GBP: (.6757) Retested .6794
- EUR/JPY : (150.80) In channel off 147.72
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