The problem with technical analysis is that it is largely subjective in nature and one mans’ sell signal is another mans’ buy! I’m looking at this pair through unashamedly bullish eyes. I see a medium term base on the 129 trendline and a short term base at yesterday’s low on the 15-day at 131.75. The break above 134.80 is another bullish sign as is the 350 pip rally in a 24-hour period. Momentum is always the sealer.
The next major target is the 137.40 daily high with the major 50% retracement level at 141.00 after that. Buy dips!