Our pivot point stands at 104.11.
Our preference
As long as 104.11 is support look for 105.17.
Alternative scenario
The downside breakout of 104.11 would call for 103.71 and 103.48.
Comment
The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (104.47) but above its 50 period moving average (104.21).
Supports and resistances
105.64 **
105.40 *
105.17 **
104.93
104.46 last
104.26
104.11 **
103.71 *
103.48 **
Number of asterisks represents the strength of support and resistance levels.


