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SUPPORT: 1.2445 1.2366 1.2333 1.2298 1.2280 1.2240 1.2180 1.2130 1.2080
RESISTANCE: 1.2500/10 1.2535 1.2685 1.2710 1.2771 1.2882
Well...we nearly reached target area of 1.25 and we have backed away...1.2534 is the 38.2 med term fib level and therefore we should run into problems around here...Just going slightly into overbought area but our weekly charts look positive....Now I think we need to clear 1.2535 before we can attempt longs...It would be better I think if we could retreat first to ease overbought scenario and then buy weakness and attempt to add to longs on a break above 1.2535....We should then have quite a clear run to 1.2685....Where would we look to go long ?...well A good place would be just above the 1.2320 area..so 1.2333 would offer some good support and down here we should see some buyers coming back into the market...They will be looking to hold longs unless we broke below 1.2290.
Source: Investing.com
RESISTANCE: 1.2500/10 1.2535 1.2685 1.2710 1.2771 1.2882
Well...we nearly reached target area of 1.25 and we have backed away...1.2534 is the 38.2 med term fib level and therefore we should run into problems around here...Just going slightly into overbought area but our weekly charts look positive....Now I think we need to clear 1.2535 before we can attempt longs...It would be better I think if we could retreat first to ease overbought scenario and then buy weakness and attempt to add to longs on a break above 1.2535....We should then have quite a clear run to 1.2685....Where would we look to go long ?...well A good place would be just above the 1.2320 area..so 1.2333 would offer some good support and down here we should see some buyers coming back into the market...They will be looking to hold longs unless we broke below 1.2290.
Source: Investing.com
