The pair is unfolding within an impulsive rally which is likely to extend further gains towards USD 1.2450 in coming 1 to 2 months. The pair found support at USD 1.1560 and turned higher. The prior swing high of USD 1.2090 is a crucial resistance to watch out for . If prices fail to breach above USD 1.2090 then we might see a pullback towards USD 1.1560 levels to complete the regular flat corrective structure before the underlying uptrend resumes.
Prices are unfolding within a flat corrective structure which made a low of 1.1729 on Friday. Now going ahead a sustained break above 1.1815 is required to confirm that the low is placed and then prices will be heading towards 1.2050 in coming weeks ahead of turning down