Held the Sep uptrend line as it simultaneously tested channel/bull flag support. The decline from July fits well as a corrective a-b-c decline. Now with a close through 1.0420 in place, the recent rally is supportive of further gains to channel resistance at 1.0510. (daily) S/t, the initial move off the lows was a 3-wave rally so this somewhat neutralizes the bullish highlilghts from the daily chart above. But again the close above 1.0420 is supportive of further upside near-term. Next resistance is 1.0472 with key supports at the 1.0420 & 1.0390 levels. Levels: Support – 1.0420, 1.0390, 1.0270 Resistance – 1.0460/72, 1.0510.
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Nomura