Current price: 1.2990
Key point: 1.3000
Our preferred direction: Buy positions above 1.3000 levels with 1.3200 as a first target and then 1.3300 as a second target.
Alternative scenario: Stop loss and change the trend by breaking the 1.3000 level, targeting the 1.2890 levels.
Technical commentary
The pair is moving in an upward direction on the daily frame until it reached the resistance levels of 1.3430 and fell from there and reached the support levels of 1.3000-1.3040, which correspond to the upward trend line from the bottom of last May.
The pair is expected to rise again to levels of 1.3230.
