Preference: LONG positions above 1.361 with targets @ 1.371 & 1.373.
Alternative scenario: The downside penetration of 1.361 will call for 1.3575 & 1.355.
Comment: the upward momentum remains strong while the pair is challenging its key medium term resistance at 1.371.
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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