Current price: 1.3230
Key point: 1.3200
Our preferred strategy: Sell positions below 1.3200 with a first target of 1.3270 and then a second target of 1.3330.
Alternative scenario: Stop loss and trend reversal upon breaking the 1.3190 level, targeting the 1.3160 level.
Technical commentary
The pair reached the pivotal support level of 1.3200, forming a false breakout price action before rising. The price is expected to rise to the 1.3270 level, and then, if it breaks through this level along with breaking the downtrend line from last month's high, it will then head towards the 1.3330 level.
