Textbook pullback to 1.2883 (1.2880) is complete and now the focus shifts to the daily bull-flag resistance and 2011 downtrend line which both align at 1.3004 today. A rally through those barriers confirms that the current move from 1.2662 is a Wave-5 rally and at a minimum is expected to carry EUR beyond 1.3170. S/t, the recent 1.3009 high adds to the confluence of resistance on the daily chart. Minor resistance at 1.3021, more significant is the base target at 1.3108. For today, key upside levels are 1.3009 & 1.3021. Levels: Support – 1.2961, 1.2939, 1.2887 Resistance – 1.3009, 1.3021, 1.3108
NOMURA