Daily Pivots: (S1) 1.2391; (P) 1.2425; (R1) 1.2458; More…
In the bigger picture, as long as 1.1801 support holds, rise from 1.0351 medium term bottom (2022 low) is expected to extend further. Sustained break of 61.8% retracement of 1.4248 (2021 high) to 1.0351 at 1.2759 will add to the case of long term bullish trend reversal. However, firm break of 1.1801 will indicate rejection by 1.2759, and bring deeper decline, even as a correction.
. On the upside, above 1.2543 will resume the rebound from 1.2306 to retest 1.2678 high.){kind=link}