Bullish bias above 0.9920




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Pivot (invalidation): 0.9920

Our preference
Long positions above 0.9920 with targets at 0.9945 & 0.9960 in extension.

Alternative scenario
Below 0.9920 look for further downside with 0.9905 & 0.9885 as targets.

A support base at 0.9920 has formed and has allowed for a temporary stabilisation.



Towards 1.3160


Pivot (invalidation): 1.3200

Our preference
Short positions below 1.3200 with targets at 1.3175 & 1.3160 in extension.

Alternative scenario
Above 1.3200 look for further upside with 1.3215 & 1.3230 as targets.

The RSI shows downside momentum.



The upside prevails


Pivot (invalidation): 0.6855

Our preference
Long positions above 0.6855 with targets at 0.6885 & 0.6900 in extension.

Alternative scenario
Below 0.6855 look for further downside with 0.6845 & 0.6835 as targets.

Technically the RSI is above its neutrality area at 50.



Rebound expected


Pivot (invalidation): 5.7400

Our preference
Long positions above 5.7400 with targets at 5.7700 & 5.7910 in extension.

Alternative scenario
Below 5.7400 look for further downside with 5.7210 & 5.7000 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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