Towards 0.9830




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Pivot (invalidation): 0.9755

Our preference
Long positions above 0.9755 with targets at 0.9810 & 0.9830 in extension.

Alternative scenario
Below 0.9755 look for further downside with 0.9735 & 0.9720 as targets.

The RSI calls for a new upleg.



Bullish bias above 1.3300



Pivot (invalidation): 1.3300

Our preference
Long positions above 1.3300 with targets at 1.3335 & 1.3355 in extension.

Alternative scenario
Below 1.3300 look for further downside with 1.3280 & 1.3265 as targets.

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.



Turning up



Pivot (invalidation): 0.6770

Our preference
Long positions above 0.6770 with targets at 0.6800 & 0.6815 in extension.

Alternative scenario
Below 0.6770 look for further downside with 0.6760 & 0.6750 as targets.

The RSI calls for a rebound.



5.5350 expected



Pivot (invalidation): 5.5790

Our preference
Short positions below 5.5790 with targets at 5.5530 & 5.5350 in extension.

Alternative scenario
Above 5.5790 look for further upside with 5.5990 & 5.6280 as targets.

A break below 5.5530 would trigger a drop towards 5.5350.

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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