This pair has been in a ranging environment for pretty much 3 years now. Since this range held repeatedly it is likely that we will see another rejection from the resistance zone between 0.995 and 1.010.
If price manages to close above 1.01 on a weekly basis I would change my bias from neutral to bullish, long term. In that case 1.050 would be the logical level to target.
If price manages to close above 1.01 on a weekly basis I would change my bias from neutral to bullish, long term. In that case 1.050 would be the logical level to target.