Current price: 1.3460
Key point: 1.3445
Our preferred strategy: Buy positions above 1.3445 with a first target of 1.3500 and then a second target of 1.3550.
Alternative scenario: Stop loss and trend reversal upon breaking the 1.3420 level, targeting levels of 1.3375.
Technical commentary
The pair reached key support levels of 1.3445-1.3660 and is above the upward trend line from the current month's low. The pair is expected to resume its upward movement to the next resistance levels at 1.3500, which is the 200-period moving average on the four-hour timeframe, and then to the 1.3550 level.
