Although weekly price indicates a shift to 1.3250ish, daily action is capped by Quasimodo resistance at 1.3173, threatening moves as far south as 1.2769/1.2846.
Against the backdrop of higher time frame activity, the 1.30 figure on the H4 time frame presents robust support to keep a tab on in early trade this week, knowing it joins with Quasimodo support at 1.3004. Consequently, buyers could make a stand from this region and attempt a recovery. Breaking 1.30, however, shifts focus towards intraday bearish scenarios to H4 support at 1.2939.
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