Pivot: 0.7875
Our preference: Long positions above 0.7875 with targets @ 0.7975 0.805 in extension.
Alternative scenario: Below 0.7875 look for further downside with 0.7785 0.7735 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. Indeed, the 0.7875 former resistance, now acting as a strong support is expected to contain any downward attempt.
Supports and resistances:
0.8095
0.805
0.7975
0.7947 Last
0.7875
0.7785
0.7735
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