Yesterday's bearish call had some success but the downside was again limited. Buying interest was again attracted above the 100 day mvg avg and, in the latter part of the day, this demand accelerated higher. Strong gains led to a test of the key 13 day mvg avg and although that point was not breached, on a closing basis, the strength of the improvement ensures our technical studies are positive.
We look to Buy in the 1.3050/55 area and any 1.3032 dip
Stop is 1.3002 offered
Targets - 1.3075, 1.3100 or even 1.3128
Closes 4pm London time