Preference: Short positions below 1.0615 with targets @ 1.0565 & 1.053 in extension.
Alternative scenario: Above 1.0615 look for further upside with 1.0645 & 1.067 as targets.
Comment: the pair is trading in a bearish channel
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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