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“The cross posted a new recovery high this morning and there is scope for a test of critical resistance at 132.05. Support is at 126.76”, suggested G.Yu and G.Berry, Strategists at the Swiss lender UBS.
As of writing, the pair is losing 0.19% at 129.02 with the next support at 128.42 (low Apr.9) followed by 127.77 (low Apr.8) and then 123.86 (low Apr.5).
On the upside, a break above 129.93 (2013 high Apr.9) would open the door to the psychological level at 130.00 and finally 130.30 (high Jan.20 2010).
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