The bears were able to break the support at 1.3150, which was a key support on the way down. Now the price is at 1.3120/10. In this situation, the price may confirm the previous forecast and fall to 1.3060/70, 1.3000. The indicators support a bearish sentiment. This adds confidence that the price will fall to the targets mentioned above. Meanwhile, this increases the risks of falling to local minima at 1.2900/50 – 1.2850/00. The uptrend resumption is unlikely, but the hints at the divergence on the MACD indicate that the price may stop its fall for correction, which can be rather long.
The level of 1.5650/60 was tested twice on the way up. After testing the strength of this level, the price pulled back down and moved to the support at 1.5560/70, which was mentioned as a key level on the way down. However, there the price kicked back and is now at 1.5590/80. The indicators show mixed dynamics: some indicators show a weakening move up. This increases the probability of changing the trend into bearish (which is possible after receiving a confirmation, like the price fall to the level of 1.5560 and consolidation below). Should this happen, the price will soon move back to 1.5400/20. Meanwhile, until the price breaks the key support level, it may resume its rise to the target at 1.5740/50.
The pair continued its rise, the bulls managed to cross the resistance at 0.9110/20 and now the price is consolidating above this level. The level of 0.9110/20 was already tested as support, resisted, and the pair is now trading at 0.9150/40. The indicators have weakened the bullish priority, but the uptrend still remains dominant, which can be considered as a continued rise, but after further price consolidation in the range of 0.9180/90 -0.9120/10. The next target will be set at the resistance level of 0.9210/20, which will determine further price dynamics: a kickback and continued fall will indicate the downtrend resumption with the target at 0.8810-0.8780/70. However, breaching this level would indicate that a medium-term bullish trend has started.