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Pivot (invalidation): 1.1690

Our preference
Short positions below 1.1690 with targets at 1.1665 & 1.1650 in extension.

Alternative scenario
Above 1.1690 look for further upside with 1.1715 & 1.1725 as targets.

The upward potential is likely to be limited by the resistance at 1.1690.



Key resistance at 1.3170.


Pivot (invalidation): 1.3170

Our preference
Short positions below 1.3170 with targets at 1.3120 & 1.3100 in extension.

Alternative scenario
Above 1.3170 look for further upside with 1.3215 & 1.3245 as targets.

As Long as the resistance at 1.3170 is not surpassed, the risk of the break below 1.3120 remains high.



Turning down.


Pivot (invalidation): 112.35

Our preference
Short positions below 112.35 with targets at 112.00 & 111.85 in extension.

Alternative scenario
Above 112.35 look for further upside with 112.45 & 112.60 as targets.

The RSI is bearish and calls for further downside.

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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