Pivot: 1.6000.
Our preference: SHORT positions below 1.6 with 1.591 1.588 in sight.
Alternative scenario: The upside penetration of 1.6 will call for a rebound towards 1.6045 1.609.
Comment: the 1.6 former support area is now acting as a strong resistance and the RSI is below a key resistance area.
Trend: ST Ltd Upside; MT Range
Key levels Comment
1.609** Intraday resistance
1.6045** Fib retracement (61.8%)
1.6*** Intraday pivot point
1.5986 Last
1.591** Intraday support
1.588*** Intraday support
1.583** Intraday support
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