The price moves in an uptrend channel and the price was in consolidation phase since mid October before the strong Rally move.. But it was able to break-out early December and went on to hit Resistance level at 1.3540 and formed a Rally-Base-Rally and retrace to test the zone at the Demand zone.. As the Rally-Base-Rally continuation pattern is confirmed,The target is going to be the 6 months higher Resistance level at R 1.35040 which might turn into a new Supply zone in return...
P.S: compare your own analysis with mine in order to decide on trade..