breaks lower. The price managed to exit the rising channel
, approaching the 50-days simple moving average
and the neckline of the previously completed inverse head and shoulders
pattern both reside around 1.2420. 1.2420 is the key support level
to watch over the short term.
Short term scenarios:
towards 1.2420, as long as below 1.2540.
In the case of a break below 1.2540, look for more intraday upside towards 1.2600.
Short term key support and resistance
1.2465 1.2420 1.2315
1.2515 1.2540 1.2600