From a technical perspective, the formation of an ascending trend-channel on short-term charts points to a well-established bullish trend and supports prospects for the emergence of some dip-buying. That said, sustained weakness below the 1.3200 level might prompt some technical selling. The pair might then accelerate the fall towards the 1.3165-60 intermediate support before eventually dropping to the 1.3100 neighbourhood.
|Support & Resistance||Level||Explanation|
|Resistance 2||1.3298||Daily R2|
|Resistance 1||1.3272||Daily R1|
|Support 1||1.3202||Daily S1|
|Support 2||1.3176||Daily S2|
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