The target resistance area is being tested at the 1.2623-26 area. Trend line resistance and the old low from January. Will see if traders use the level to take profit. On an extension higher, the London high from yesterday at 1.2666 is the next target, followed by the high from Friday at 1.26917.
Watch for a mvoe below the 1.2613 to signal a more balanced market. If the price can not move below this area, the buyers could squeeze the shorts some more……
