The rebound off 1.2865 has met the targets of ST Triple Bottoms off 1.3045, with pair currently back below the daily Downtrendline off 2006 high (1.3139 today).
Toyed with the neckline of a ST Double Top (13079: see graph): 1st Support area at 1.3110 (ST low hourly), with next levels at 1.3071/ .3069 (week low + daily envelope/ daily projection band bottom), ahead of 1.3045 (see graph): tough on 1st tests.
Failure to do so would have next level at 1.3023/ .3008 (daily Starc bottom), where ST pause favored.
Resistance area at 1.3139/ .3143 (see above/ daily ST MA↓), with next levels at 1.3155/ .3160 (daily envelope/ daily MT MA→), ahead of 1.3175/ .3177 (previous reaction high hourly// breakdown hourly): tough on 1st tests.
For in-depth insight on other currency pairs:
- USD/JPY: (116.35): Targets of daily Double Top off 118.96 have been met
- EUR/GBP: (.6805) Retested previous LT reaction highs
- EUR/JPY: (152.75) 2nd target off 155.27 has been met
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