The 1.58 level has held strongly as support in the past and recently price has bounced from this level. Rather surprisingly, price has continued on through the 1.59 level which is now holding as support. With this in mind, price has now broken away from this 1.59 level forming a very large BUOB suggesting a turn around for this pair. Couple this with long time divergence on MACD
, I believe its highly likely price will reach the 1.61 level for a nice quick profit.