Pivot
(invalidation):
5.9050
Our preference
Long positions above 5.9050 with targets at 5.9370 & 5.9530 in extension.
Alternative scenario
Below
5.9050 look for further downside with 5.8900 & 5.8700 as targets.
Comment
A support base at 5.9050 has formed and has allowed for a temporary stabilisation. The pair
has managed
to trade at levels above both 20-period and 50-period moving averages.
