A bottom has been built at 1.5424 and the outlook is bullish above 1.5500 support area, for a rise through 1.5567, en route to a new high around 1.5610. Crucial on the downside is 1.5500 support zone.
The uptrend is still intact, heading for a test of 1.5700 area and I favor a reversal to trigger a sell-off towards 1.540+ lows. Initial intraday static support is projected at 1.5595.
Friday's peak at 1.3380 signals a minor reversal on the intraday frames and current outlook is negative, for a break through 1.3280 crucial support, en route to 1.3204 low. Initial intraday support is projected at 1.3310.
Yesterday's upswing peaked at 98.11 and current intraday bias is negative, for a tight test of 96.90 support area. Key intraday resistance is projected at 97.48.
Yesterday's break through 1.3380 signals a renewal of the upmove from 1.3205, but my outlook is counter-trend, for a slide through 1.3320 crucial level, en route to 1.32+. Initial intraday support is projected at 1.3375 and next significant resistance on the upside can be spotted at 1.3530.
Yesterday's peak at 1.5716 marks a reversal of the uptrend from 1.5424 and my outlook here is bearish, for a slide through 1.5580, en route to 1.5420. Key intraday resistance is projected at 1.5647 break-out area.
After brief consolidation below 98.80 dynamic resistance, the uptrend has been renewed, targeting 99.93 high. Initial intraday support is projected at 98.80, followed by the key area at 98.39.
Current slide below 99.15 should be considered corrective in nature, thus preceding next leg upwards, to 99.93, en route to 101.50. The intraday bias is negative, currently testing 98.39 support, with a risk of dip to 98.00 area before reversal. Trigger on the upside is 98.83.
There is no change in the situation here as the downtrend from 1.5716 remains intact with a crucial level at 1.5635. Initial target on the downside is projected at 1.5424.
Although yesterday's rise was pretty impulsive in nature, I don't think it has the potential for a new high above 1.3450 and I favor a major downswing, for 1.3205 and 1.3160. Intraday support is projected at 1.3350 and currently it guards the positive bias.
Yesterday's sell-off bottomed at 1.3217 and current rebound is corrective, preceding next leg downwards, to 1.3160 support area. Key resistance on the upside is projected at 1.3300 break-out level.
The minor downtrend from 1.3400 is already over with the recent low at 1.3172 and currently a consolidation is underway, preceding next wave downwards, to 1.3050. Minor intraday resistance is projected at 1.3253 and crucial on the upside is 1.3300 key area.
Although the intraday bias is undoubtedly bearish, I favor one more upswing towards 1.3230-50 before a sustained break through 1.3160, en route to 1.3050. Key intraday resistance is set at 1.3198.
Several tests of 1.5530 support have failed, which signals a bullish pressure, for a break through 1.5600 intraday resistance, en route to 1.5720 high. Crucial on the downside is 1.5530.
A bottom has been set at 1.3104 and the intraday outlook here is already positive, for a rise towards 1.3220, en route to 1.3300 major resistance. Initial support on the downside is projected at 1.3140.
Yesterday's rise peaked at 1.3280, but current slide should be considered corrective while it holds above 1.3225, preceding one more upswing for a tight test of 1.3300 area.
Yesterday's violation of 100.21 peak signals, that the uptrend has been renewed and current bias is positive, for a rise towards 101.50. Initial support is projected at 100.15, followed by 99.75 and the crucial static area around 99.30.
