The downside prevails.




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Pivot (invalidation): 1.0855

Our preference
Short positions below 1.0855 with targets at 1.0815 & 1.0800 in extension.

Alternative scenario
Above 1.0855 look for further upside with 1.0875 & 1.0890 as targets.

The RSI lacks upward momentum.



Bullish bias above 1.3015.


Pivot (invalidation): 1.3015

Our preference
Long positions above 1.3015 with targets at 1.3070 & 1.3100 in extension.

Alternative scenario
Below 1.3015 look for further downside with 1.2990 & 1.2965 as targets.

The break above 1.3015 is a positive signal that has opened a path to 1.3070.



Key resistance at 109.90.


Pivot (invalidation): 109.90

Our preference
Short positions below 109.90 with targets at 109.70 & 109.60 in extension.

Alternative scenario
Above 109.90 look for further upside with 110.00 & 110.10 as targets.

The upward potential is likely to be limited by the resistance at 109.90.

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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