Current price: 16.00
Key point: 17.00
Our preferred direction: Buy positions above 17.00 levels with 18.50 as a first target and then 21.50 as a second target.
Alternative scenario: Stop loss and change the trend by breaking the 17.00 level, targeting the 14.00 levels.
Technical commentary
The pair managed to rise from the support levels 1.0695-1.0725, breaking the downtrend line from the top of last December. It is currently targeting the levels of 1.0935.
In the event of a rebound from the 200 moving average and a break and stability below the 1.0800 levels, the pair will head towards the 1.0720-1.0695 levels.
