“¢ Receding negative sentiment over Italian political turmoil helps build on this week’s solid rebound from 11-month lows amid.
“¢ Acceptance above 38.2% Fibonacci retracement level suggests additional gains towards the 200-SMA on the hourly chart.
“¢ Any meaningful retracement, if risk-off tone grips the market, might now find strong support near the upward trending 50-hourly SMA.
Spot rate: 127.58
Trend: Bullish
Support 1: 127.20 (38.2% Fibonacci level 1-D)
Support 2: 126.90 (50-period SMA H1)
Support 3: 126.47 (S1 daily pivot-point)
Resistance 1: 127.88 (200-period SMA on hourly chart)
Resistance 2: 128.14 (23.6% Fibonacci level -1W)
Resistance 3: 128.51 (R2 daily pivot-point)
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