Long term: not lower than 1.2313 for this year

On a yearly basis, Bollinger band spread is not minimal and LY is flat. Within two periods our 7 / 23 moving averages and stochastic will be neutral. MY (1.2049) is our first support.

On a quarterly basis, the trend for our 7 / 23 quarters moving averages is not bearish. Our stochastic and MACD are overbought. Prices closed below MQ. Below MY (1.2049), LQ (1.1254) could be a target.

On a monthly basis, the UM / LM spread is maximal. A bearish A type crossover is the status for our 7 / 23 months moving averages. The status for our stochastic and MACD is a bearish non-crossover. LM (1.2313) is our main objective.

Idea: not lower than LM for some moths (year’s end?).

R = MQ (1.3327), PW (1.3736);    S =1.2330, LM (1.2313)

Medium term: PW = resistance

On a weekly basis, Bollinger bands spread is maximal. PW acted as a resistance. With a close below MW (1.3189), LW (1.2313) will be our next objective.

Idea: close short position around LW.

R = PW (1.3736), UW (1.4065);   S = MW (1.3189), LW (1.2313)

Short term: towards LD (1.2853)

On a daily basis, the spread UD / LD is wide but shrinking slowly. The status for our stochastic and MACD is a bearish non-crossover. LD (1.2853) is our main support. Afterwards, a bearish pre-parallel pattern could develop.

Idea: decline as long as MD (1.3319) = resistance.

R = MD (1.3319);    S =MW (1.3189), LD (1.2853)

Conclusion: opportunities in April to close short positions.