The cross has sharply bounced in the recent weeks and hit a high point at 1.5663, slightly above a medium term resistance (currently at 1.5636) before starting a correction. This correction should prolong in the short term toward 1.5360, possibly 1.5173 (short term retracements). Above this last support, the medium term bullish trend remains intact and a break above 1.5636/86 would prolong the uptrend toward a potential resistance currently at 1.5915. Sell – Stoploss @ 1.5621 – target @ 1.5361.
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