Near-term focus turned higher again, following yesterday’s strong downside rejection that confirmed false break into daily cloud.
Today’s extension of strong bounce from 1.2382 (yesterday’s spike low) also completed inverse H&S pattern on hourly chart that signals further upside.
Fresh gains approach 1.2500 pivot (also broken bull-trendline off 1.1986 low) that marks a trigger for renewed attack at key 1.2550 zone barriers.
Daily 55 / 100 /30 SMA’s at 1.2426/17 zone remain key near-term supports, together with daily cloud top at (currently at 1.2404).
Bullish near-term bias is expected to stay in play while the price holds above these supports.
Res: 1.2500, 1.2550, 1.2580, 1.2619
Sup: 1.2452, 1.2426, 1.2404, 1.2382
