Current price: 1.2990
Key point: 1.2900
Our preferred direction: Buy positions above 1.2900 levels with 1.3125 as a first target and then 1.3200 as a second target.
Alternative scenario: Stop loss and change the trend by breaking the 1.2900 level, targeting the 1.2850 levels.
Technical commentary
The pair is moving in a downward direction on the four-hour frame from last month's peak from the resistance levels of 1.3400 until it reached the pivotal support levels of 1.2900 and rose from it after forming a harmonic alt bat pattern and from the ascending trend line from last April's bottom.
In case of stability above the 1.3000 levels, the pair will head towards the 1.3125 levels and then the 1.3200 levels.
