The upside prevails.




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Pivot (invalidation): 1.1245

Our preference
Long positions above 1.1245 with targets at 1.1285 & 1.1300 in extension.

Alternative scenario
1.1245 look for further downside with 1.1230 & 1.1215 as targets.

The RSI is bullish and calls for further upside.






Pivot (invalidation): 1.2520

Our preference

Long positions
above 1.2520 with targets at 1.2555 & 1.2570 in extension.

Alternative scenario
Below 1.2520 look for further downside with 1.2505 & 1.2490 as targets.

The RSI calls for a bounce.



Intraday support around 108.20.



Pivot (invalidation): 108.20

Our preference
Long positions above 108.20 with targets at 108.60 & 108.75 in extension.

Alternative scenario
Below 108.20 look for further downside with 108.00 & 107.85 as targets.

A support base at 108.20 has formed and has allowed for a temporary stabilisation.

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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