The pair has been, since the 13th of August, 2015, aggressively escalating higher, having climbed from as low as 1.2951 to as high as 1.3118.
Some bearish pressures are now noticed at 1.3118, today’s major resistance zone, and in the event where the pair remains below this level it could decelerate to 1.3022.
In contrast, in the scenario where the pair resume escalating, a probable upside break at 1.3155 could force the price to appreciate to 1.3276.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.