Technical outlook and chart setups:
The single currency pair raised past 133.00 level yesterday but failed to print higher highs. At the moment, it looks to be testing the past resistance turned support region around 132.00 level. It is recommended to book partial profits at current levels and move risk to break-even levels on the remaining long positions. The currency pair would probably rally towards a new high from current levels, it seems a failure would enforce structural change though! At the moment, resistance is at 133.80/134.00 region, while support is just below 130.00 level. Looking to print higher highs for now.
Trading recommendations:
Book partial profit on long positions and move risk/stop to break-even levels.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
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