Pivot
(invalidation):
1.2200
Our preference
Long positions above 1.2200 with targets at 1.2240 & 1.2270 in extension.
Alternative scenario
Below
1.2200 look for further downside with 1.2175 & 1.2155 as targets.
Comment
The RSI calls for a rebound. The pair has repeatedly failed to sink across the key level of
1.2200, which is
now a key support.
