Bullish bias above 0.9730




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Pivot (invalidation): 0.9730

Our preference
Long positions above 0.9730 with targets at 0.9765 & 0.9780 in extension.

Alternative scenario
Below 0.9730 look for further downside with 0.9700 & 0.9680 as targets.

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



Key resistance at 1.3240



Pivot (invalidation): 1.3240

Our preference
Short positions below 1.3240 with targets at 1.3205 & 1.3180 in extension.

Alternative scenario
Above 1.3240 look for further upside with 1.3260 & 1.3290 as targets.

As Long as the resistance at 1.3240 is not surpassed, the risk of the break below 1.3205 remains high.



The bias remains bullish



Pivot (invalidation): 0.6775

Our preference
Long positions above 0.6775 with targets at 0.6815 & 0.6830 in extension.

Alternative scenario
Below 0.6775 look for further downside with 0.6750 & 0.6725 as targets.

A support base at 0.6775 has formed and has allowed for a temporary stabilisation.






Pivot (invalidation): 5.5510

Our preference
Long positions above 5.5510 with targets at 5.5900 & 5.6160 in extension.

Alternative scenario
Below 5.5510 look for further downside with 5.5280 & 5.5130 as targets.

The RSI calls for a rebound.

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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