The Euro is still well below our longer-term target zone near 1.39 but momentum is warning of at least a minor pullback because of a divergence with price at recent highs. Recent breakouts at 1.3462 and then 1.3573 have acted as new support; the latter is key near-term to keeping the uptrend intact.
S/t, a break of 1.3573 will likely see further weakness to the polarity level at 1.3462 which is a major breakout level and therefore critical to the longer-term up channel that began in July. Resistance now is the spike high at 1.3646 and then the next symmetry target at 1.37. Levels: Support – 1.3573, 1.3462, 1.3290 Resistance – 1.3646, 1.37, 1.3711
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Nomura