International Trading


Pair has been giving up ground since failure to break above 1.3235 area, and is approaching to key 1.3120 support area. Not only the 38.2% retracement of  the daily 1.5140/1.1870 rally, but also a daily ascendant trend line coming from early July today around 1.3110. Seems difficult to see the cross breaking that level ahead of US Payrolls tomorrow, so any approach to those levels should be understood as a buying opportunity, with a tight stop around 1.3080 next support in line. A recovery should push the pair back to current area with 1.3180 as strong resistance level to watch. Above this last, 1.3220/30 and 1.3265 are next levels to consider to the upside.

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