Wow, I can’t believe it is December already.  Oh well, nice weather here where I am so I can’t complain

Relatively calm day on Monday for the pair as not only did it stay within the range mentioned in yesterday’s post, it  only moved about 100 pips.

There are short term trades in here, but ultimately this remains a range bound pair.

Resistance is at 1.5040 with a move beyond that indicating a move to test swing highs at 1.5080.  Targets and resistance beyond is at 1.5100, 1.5120 and 1.5140-1.5150.

Minor support is at 1.5000 with more substantial support just below recent swing lows at 1.4970.  Support beyond is at 1.4950 and 1.4920.  While a move below this is not highly probable, targets beyond are 1.4890, 1.4870 and 1.4840.

Cory Mitchell, CMT
Chief Market Strategist
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