first support at the December high at 1.2774 but below 1.2760 risks a slide to good support at 1.2720/10. Try longs with stops below 1.2685. Just be aware that further losses target minor support at 1.2650/40 then a buying opportunity at 1.2610/00.

Holding the 1.2775/65 area allows a recovery to 1.2855/60 (which has held for 2 days) before the 1.2900/04 high. Bulls are in control so a break above the September low at 1.2912 targets 1.2935 and 1.2950 then 1.2990/95 and 1.3020.


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