Under pressure.


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Pivot (invalidation): 0.9660

Our preference
Short positions below 0.9660 with targets at 0.9625 & 0.9605 in extension.

Alternative scenario
Above 0.9660 look for further upside with 0.9680 & 0.9700 as targets.

As Long as the resistance at 0.9660 is not surpassed, the risk of the break below 0.9625 remains high.



Key resistance at 1.3050.


Pivot (invalidation): 1.3050

Our preference
Short positions below 1.3050 with targets at 1.3030 & 1.3020 in extension.

Alternative scenario
Above 1.3050 look for further upside with 1.3060 & 1.3075 as targets.

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



Bullish bias above 0.6895.


Pivot (invalidation): 0.6895

Our preference
Long positions above 0.6895 with targets at 0.6920 & 0.6930 in extension.

Alternative scenario
Below 0.6895 look for further downside with 0.6880 & 0.6865 as targets.

A support base at 0.6895 has formed and has allowed for a temporary stabilisation.



5.8670 expected.


Pivot (invalidation): 5.8840

Our preference
Short positions below 5.8840 with targets at 5.8670 & 5.8600 in extension.

Alternative scenario
Above 5.8840 look for further upside with 5.8930 & 5.9010 as targets.

As Long as the resistance at 5.8840 is not surpassed, the risk of the break below 5.8670 remains high.

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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