The pair is still floating sideways below 1.3340 (the first target that has been achieved) in an attempt to gain bullish momentum due to the overbought signals indicated by Stochastic and RSI indicators on the daily time frame … breaching the mentioned resistance may push the price further towards the second target level at Resistance 1.3480 then 61.8% for the general downside wave around 1.3630 as a third target.
The bullishness remains intact as long as the pair is above the 4-hour uptrend line and a four-hour closing below 1.3000 might be enough to end the bullish scenario, and then the pair could then go to test at least 1.2780 support.
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