Current price: 1.0940
Key point: 1.0900
Our preferred direction: Buy positions above 1.0900 levels with 1.0980 as a first target and then 1.1015 as a second target.
Alternative scenario: Stop loss and change the trend by breaking the 1.0900 level, targeting the 1.0840 levels.
Technical commentary
The pair rose yesterday from the pivotal support levels 1.0885-1.0900 above the lower limit of the ascending channel, and is expected to rise further to the 1.0980 levels and then the 1.101 levels.
In case of a decline and breaking the mentioned support levels and closing below the lower limit of the channel, the price will head towards 1.0840 levels.
