Estimated pivot point is at the level of 0.9838.
Our opinion: Sell the pair from correction below the level of 0.9838 with the target of 0.9510 – 0.93.
Alternative scenario: Breakout and consolidation of the price above the level of 0.9838 may trigger further rise up to 1.0 – 1.0100.
Analysis: Presumably, the formation of the third wave iii of the senior level continues. Currently, it seems that upward correction as the wave (ii) has completed. If this assumption is correct the pair can decline to 0.9510 – 0.93. Critical level for this scenario is 0.9838. Breakout of this level will trigger further rise in price.
