From a technical perspective, the overall momentum remain bullish in the last couple of days. However, the price is struggling to get above the resistance at 135 and has already rejected the level on lower timeframes. In the short term, 135 and 135.20 remain the key resistance area to focus on, a break and close above this level will confirm a possible move to 135.40/50. On the downside, the immediate support is near 134.20 while the 133.70 area aligns as key support and a daily close below that level could open the door to the next support level which is located near 133. The 133 mark is a major support level, failure to defend the mentioned support level has the potential to drag the pair further towards the 132.50/40 support zone.
