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The technical outlook is unchanged, and the pair’s movements did not change significantly, maintaining the expected bullish path after building a good support floor around 1.2760 and, most importantly, 1.2730.
Technically, the bullish trend is still valid, depending on the stability of daily trading above the strong support level at 1.2730 represented by the 23.60% Fibonacci correction as shown on the chart, in addition to the continuation of the 50-day moving average providing positive motive.
This encourages us to maintain our positive outlook, targeting 1.2850 first target, considering that its breach increases the strength of the bullish trend so that we will wait for 1.2900 and 1.2930 target price stations.
The breach below the support level 1.2730 postpones the idea of achieving more rise and leads the pair to retest 1.2665 before attempting to rise again.
| S1: 1.2740 | R1: 1.2850 |
| S2: 1.2665 | R2: 1.2900 |
| S3: 1.2595 | R3: 1.2975 |
