We continue to look for more upside pressure through minor resistance at 123.18 for a rally towards 125.00 and ultimately above the former peak at 127.02 for a rally to129.24.
In the short-term, we can see support at 122.81 and then solid support at 122.16 which we expecte will be able to protect the downside for a push through minor resistance at 123.18.
R3: 124.24
R2: 123.67
R1: 123.18
Pivot: 122.89
S1: 122.81
S2: 122.16
S3: 121.59
Trading recommendation:
We are long EUR from 122.25 and we will move our stop higher to 122.10
