Pivot: 136.9
Our preference: Long positions above 136.9 with targets @ 137.4 137.65 in extension.
Alternative scenario: Below 136.9 look for further downside with 136.7 136.5 as targets.
Comment: Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited. The pair has broken above its 50-period moving average and its bearish channel resistance.
Supports and resistances:
138.05
137.65
137.4
137.2615 Last
136.9
136.7
136.5
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