Daily Pivots: (S1) 1.2674; (P) 1.2710; (R1) 1.2736; More…
Breach of 1.2685 minor support suggests short term topping at 1.2760 already. Intraday bias is mildly on the downside. Firm break of 55 4H EMA (now at 1.2661) will target near term channel support (now at 1.2563). On the upside, break of 1.2760 will resume the rebound from 1.2298 towards 1.2892 resistance.
In the bigger picture, price actions from 1.3141 medium term top are seen as a corrective pattern. Fall from 1.2892 is seen as the third leg which might have completed already. Break of 1.2892 resistance will argue that larger up trend from 1.0351 (2022 low) is ready to resume through 1.3141. Meanwhile, break of 1.2298 support will extend the corrective pattern instead.
 will target near term channel support (now at 1.2563). On the upside, break of 1.2760 will resume the rebound from 1.2298 towards 1.2892 resistance.){kind=link}