• Bullish trend on the short term • Fundamentals point to a bearish trend long term
• From a technical perspective: • Pair is trading near the 50% retracement level of March and the critical horizontal resistance at 1.1980-90 • Next target upside is the 61,8% level near 1.2030 • Falling wedge breakout is causing prices to rise • In my opinion, if prices keep on rising, the last target of the bulls will be the trend line connecting Jan and March highs around 1.21