If 1.2267 cannot contain the rally, next resistance is 1.2400. There is a barrier at that level as well, it should be noted. Downtrend resistance comes in at 1.2420, drawn from the May 1 highs of 1.3277.
Heavy stops are noted in the 1.2425 area.
No matter how you slice it, technically we’ve put in a resounding bottom and it looks as though we won’t see 1.20 again anytime soon.
