Preference: LONG positions above 1.3495 with 1.3555 & 1.3585 in sight.
Alternative scenario: The downside breakout of 1.3495 will open the way to 1.348 & 1.3455.
Comment: the RSI has broken above a declining trend line, this calls for a continuation of the rebound.
The red lines are the supports, the green lines are the resistances and the blue line is the pivot point (the key level where we would turn bullish from bearish, or bearish from bullish). There is no one-way for calculating our supports and resistances. We favour the use of Fibonacci levels (either via a retracement or a projection), along with classical technical levels (gaps, horizontal lines, etc.). The choice will depend on the current market configuration.
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