Pivot: 1.2200
Our Preference: LONG above 1.22 with 1.255 1.265 in sight.
Alternative Scenario: Below 1.22 look for further weakness to 1.21.
Comment: the pair is supported by a rising trend line in place since late 2012.
Trend: ST Consolidation; MT Bullish, we have been bullish since 7 SEP 2011 (1.2049).
Key levels Comment
1.2850** Horizontal resistance
1.2650*** Horizontal resistance
1.2550* Horizontal resistance
1.2323 Last
1.2200*** MT pivot point
1.2100** Horizontal support
1.2000*** Horizontal support
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