Pivot: 1.25
Our preference: Short positions below 1.25 with targets @ 1.2365 1.23 in extension.
Alternative scenario: Above 1.25 look for further upside with 1.26 1.264 as targets.
Comment: Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited. The pair has broken below a rising trend line and remains on the downside.
Supports and resistances:
1.264 *
1.26 *
1.25 ***
1.2435 Last
1.2365 ***
1.23 **
1.221 ***
Copyright 1999 – 2015 TRADING CENTRAL