Current price: 1.3265
Key point: 1.3200
Our preferred strategy: Buy positions above 1.3200 with a first target of 1.3330 and then a second target of 1.3390.
Alternative scenario: Stop loss and trend reversal upon breaking the 1.3180 level, targeting the 1.3140 level.
Technical commentary
The pair managed to break through the downtrend line from last month's high while holding above the key support level of 1.3200. If it breaks above the resistance level of 1.3275, the pair will head towards 1.3330, and then, if it breaks above that level, towards 1.3390.
