The bias remains bullish.


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Pivot (invalidation): 1.1125

Our preference
Long positions above 1.1125 with targets at 1.1145 & 1.1155 in extension.

Alternative scenario
Below 1.1125 look for further downside with 1.1110 & 1.1100 as targets.

The RSI lacks downward momentum.



Key resistance at 1.3005.


Pivot (invalidation): 1.3005

Our preference
Short positions below 1.3005 with targets at 1.2975 & 1.2960 in extension.

Alternative scenario
Above 1.3005 look for further upside with 1.3030 & 1.3050 as targets.

The upward potential is likely to be limited by the resistance at 1.3005.



Watch 110.35.


Pivot (invalidation): 109.85

Our preference
Long positions above 109.85 with targets at 110.20 & 110.35 in extension.

Alternative scenario
Below 109.85 look for further downside with 109.60 & 109.40 as targets.

Technically the RSI is above its neutrality area at 50.

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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