The pair tested the support level at 1.2960 last Friday and quickly returned to trade near its first target at 1.3090 resistance … Stochastic indicates a saturation on both the four-hour and daily time frames, which may put pressure on the price again … but the possibility of a rise remains As long as the trading remains higher than 1.2960, and the price could reach the second target at 1.3210 resistance … It is better to break the resistance 1.3090 – 1.3100 to confirm this probability.
A break of the 50 and 100 moving averages with a four-hour closing below 1.2960 might be enough to end the upside scenario and could then head to 1.2900 as the first target and then 1.2835 as the second target.
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