A positive bounce from the euro lows at 1.2841 see the pair up at 1.2874.
We’re still walking the tight rope of the broken lower trend line but are not pushing above convincingly.
The 55 wma is at the old 50 fib line at 1.2875 and the first line of resistance is at 1.2915.
Underneath we find the medium term trend line from Nov 2012 through April at 1.2770 . From there it’s the April lows at 1.2745. Before we get there, there is support at 1.2833 and 1.2785.
In light of the lack of data again today we could see the options at 1.2845 & 1.2850 come into play as we head to the cut.
A brief recap of the nearby options to follow…