“¢ The pair trimmed some of its early gains to 2-1/2 week tops, nearing a resistance marked by 61.8% Fibonacci retracement level of the 1.3386-1.3064 downfall.
“¢ A modest USD retracement seemed to be the only factor prompting some profit-taking amid overbought conditions on the 1-hourly chart.
“¢ The fact that the pair has managed to hold above an important resistance break-point, coinciding with 50% Fibonacci retracement level, support prospects for additional near-term up-move.
Spot rate: 1.3235
Daily Low: 1.3190
Daily High: 1.3260
Trend: Bullish
Resistance
R1: 1.3260 (current day swing high)
R2: 1.3300 (round figure mark)
R3: 1.3354 (R2 daily pivot-point)
Support
S1: 1.3220 (important resistance break-point)
S2: 1.3190 (current day low)
S3: 1.3167 (50-period SMA H1)
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