The pair is rising after finding support at 1.0025, which is in line with the SMA 50, although the price is moving below the ascending trend line shown on the chart, but the trend structure is still rising, keeping the potential upside scenario at 1.0060 As long as trading remains above 0.9980 and could be heading to its second target at the November high of 1.0125 which breached a daily closing might push the price to target the resistance at least 1.0225.
A breach of the uptrend structure, which is confirmed by a four hour closing below 0.9980, might be enough to end the bullish scenario and the price could then target the support level 0.9910 as the first target and then 0.9840 as the second target.
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