It is likely to fall towards 1.2558 - 1.2522 as its corrective rally could falter in 1.2626 - 1.2658 area. Stop above 1.2730 zone.

Technical Forecast

  • Elliott Wave

    flat correction down

Key Points

  • Key Point1.2586
  • Entry Point1.2621
  • Trendline 11.2666
  • Trendline 21.2646
  • Elliott1.2686
  • Closing1.2586
  • Ex-Low1.2530
  • Ex-High1.2666
  • Projection1.2478

Supports and Resistance levels

  • Support 11.2522
  • Support 21.2458
  • Resistance 11.2658
  • Resistance 21.2730
  • Pivot1.2594

One more dip to 1.2532 - 1.2456 is likely followed by a grind higher to 1.2672 - 1.2737. After which it can resume its downtrend.

Technical Forecast

  • Elliott Wave

    elongated flat correction down

Key Points

  • Key Point1.2570
  • Entry Point1.2630
  • Trendline 11.2724
  • Trendline 21.2676
  • Elliott1.3174
  • Closing1.2586
  • Ex-Low1.2478
  • Ex-High1.2759
  • Projection1.2401

Supports and Resistance levels

  • Support 11.2456
  • Support 21.2326
  • Resistance 11.2737
  • Resistance 21.2889
  • Pivot1.2607

While below 1.2963 - 1.3042 it might drop to 1.2592 or 1.2433.

Technical Forecast

  • Elliott Wave

    common flat resistance in downtrend

Key Points

  • Key Point1.2719
  • Entry Point1.2926
  • Trendline 11.3175
  • Trendline 21.3113
  • Elliott1.3298
  • Closing1.2751
  • Ex-Low1.2724
  • Ex-High1.3174
  • Projection1.2269

Supports and Resistance levels

  • Support 11.2592
  • Support 21.2433
  • Resistance 11.3042
  • Resistance 21.3333
  • Pivot1.2883