We continue to look for a clear break above minor resistance at 126.75 for a continuation higher to 129.50 and ultimately closer to the 161.8% extension target at 133.50.
Support is now seen at 126.37 with back-up support at 126.05 which ideally will protect the downside for the next impulsive rally higher.
R3: 126.93
R2: 126.75
R1: 126.57
Pivot: 126.37
S1: 126.05
S2: 125.69
S3: 125.43
Trading recommendation:
We remain long EUR from 124.80 and we will raise our stop to 125.80.
