Pivot: 1.2100
Our Preference: LONG above 1.2000 with 1.24 1.2565 in sight.
Alternative Scenario: Below 1.21 look for further weakness to 1.20.
Comment: the pair has rebounded on its support and should post further advance as the RSI is well directed.
Trend: ST Ltd Upside; MT Bullish, we have been bullish since 7 SEP 2011 (1.2049).
Key levels Comment
1.2700 ** Horizontal resistance
1.2565 *** Horizontal resistance
1.2400 ** Horizontal resistance
1.2301 Last
1.2100 *** MT pivot point
1.2000 *** Horizontal support
1.1900 ** Horizontal support
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