Current price: 1.0765
Key point: 1.0750
Our preferred direction: Buy positions above 1.0750 levels with 1.0800 as a first target and then 1.0880 as a second target.
Alternative scenario: Stop loss and change the trend by breaking the 1.0750 level, targeting the 1.0700 levels.
Technical commentary
The pair is moving in an upward direction and with the price above the 200 moving average and above the 1.0760 levels, the pair is expected to rise to the 1.0805 levels.
However, in the event of a break and close below the 200 moving average and below the 1.0760 levels, the pair will be expected to fall to the 1.0700-1.0715 levels.
