Pivot: 121.65
Our preference: Short positions below 121.65 with targets @ 120.9 120.6 in extension.
Alternative scenario: Above 121.65 look for further upside with 122 122.5 as targets.
Comment: As long as the resistance at 121.65 is not surpassed, the risk of the break below 120.9 remains high. The pair is posting a rebound but stands below its resistance.
Supports and resistances:
122.5 **
122 ***
121.65 ***
121.33 Last
120.9 ***
120.6 **
120.2 **
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