Current price: 1.3430
Key point: 1.3300
Our preferred strategy: Buy positions above 1.3300 with a first target of 1.3535 and then a second target of 1.3600.
Alternative scenario: Stop loss and trend reversal upon breaking the 1.3270 level, targeting the 1.3200 level.
Technical commentary
The pair is moving upwards above the support levels of 1.3280-1.3300 and above the 200-period moving average on the four-hour timeframe, having broken through the resistance level of 1.3365.
If the resistance levels of 1.3450-1.3470 are broken, the pair will then head towards the next resistance levels at 1.3535 and then the 1.3600 levels.
