Key resistance at 1.1020




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Pivot (invalidation): 1.1020

Our preference
Short positions below 1.1020 with targets at 1.1000 & 1.0985 in extension.

Alternative scenario
Above 1.1020 look for further upside with 1.1035 & 1.1055 as targets.

The upward potential is likely to be limited by the resistance at 1.1020.



Watch 1.2290


Pivot (invalidation): 1.2350

Our preference
Short positions below 1.2350 with targets at 1.2310 & 1.2290 in extension.

Alternative scenario
Above 1.2350 look for further upside with 1.2375 & 1.2400 as targets.

As Long as the resistance at 1.2350 is not surpassed, the risk of the break below 1.2310 remains high.



Watch 108.50


Pivot (invalidation): 107.80

Our preference
Long positions above 107.80 with targets at 108.25 & 108.50 in extension.

Alternative scenario
Below 107.80 look for further downside with 107.65 & 107.45 as targets.

The RSI calls for a new upleg.

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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