Pivot: 1.62
Our preference: Long positions above 1.62 with targets @ 1.704 1.74 in extension.
Alternative scenario: Below 1.62 look for further downside with 1.587 1.56 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited. The pair remains within a ST bullish channel.
Supports and resistances:
1.79
1.74
1.704
1.6488 Last
1.62
1.587
1.56
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