1.1100 expected.


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Pivot (invalidation): 1.1065

Our preference
Long positions above 1.1065 with targets at 1.1085 & 1.1100 in extension.

Alternative scenario
Below 1.1065 look for further downside with 1.1050 & 1.1035 as targets.

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. The pair keeps challenging the overhead resistance at 1.1085.



Bullish bias above 1.2785.


Pivot (invalidation): 1.2785

Our preference
Long positions above 1.2785 with targets at 1.2870 & 1.2900 in extension.

Alternative scenario
Below 1.2785 look for further downside with 1.2740 & 1.2695 as targets.

Technically the RSI is above its neutrality area at 50. The pair is consolidating gains made above the key 1.2800 level.



Turning up.


Pivot (invalidation): 108.60

Our preference
Long positions above 108.60 with targets at 108.90 & 109.00 in extension.

Alternative scenario
Below 108.60 look for further downside with 108.45 & 108.30 as targets.

A support base at 108.60 has formed and has allowed for a temporary stabilisation. The pair has swung back to levels above both 20-period and 50-period moving averages.

This report has been prepared by AC Markets and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by AC Markets personnel at any given time. ACM is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.

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