Bullish bias above 1.1195.



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Pivot (invalidation): 1.1195

Our preference
Long positions above 1.1195 with targets at 1.1225 & 1.1245 in extension.

Alternative scenario
Below 1.1195 look for further downside with 1.1180 & 1.1165 as targets.

The RSI has just landed on its neutrality area at 50% and is turning up.



1.2780 expected.


Pivot (invalidation): 1.2880

Our preference
Short positions below 1.2880 with targets at 1.2825 & 1.2780 in extension.

Alternative scenario
Above 1.2880 look for further upside with 1.2925 & 1.2960 as targets.

A break below 1.2825 would trigger a drop towards 1.2780.



Key resistance at 109.70.


Pivot (invalidation): 109.70

Our preference
Short positions below 109.70 with targets at 109.15 & 109.00 in extension.

Alternative scenario
Above 109.70 look for further upside with 109.90 & 110.05 as targets.

As Long as 109.70 is resistance, look for choppy price action with a bearish bias.

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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