Current price: 1.3355
Key point: 1.3330
Our preferred direction: Buy positions above 1.3330 levels with 1.3430 as a first target and then 1.3500 as a second target.
Alternative scenario: Stop loss and change the trend by breaking the 1.3330 level, targeting the 1.3230 levels.
Technical commentary
The pair is moving in an upward direction on the four-hour frame from the bottom of last August, breaking through the descending channel represented by a continuing bearish flag pattern. If it remains above the 1.3330 levels, the pair is expected to continue rising to reach the 1.3430 levels.
