Today’s bullish move to a high of 1.3295 is a welcome development, however, bullish momentum is seen gathering pace only above 1.3315 (23.6% of 1.5019-1.2789), in which case the spot could test major hurdle at 1.3363 (50% of Fibo extension).
On the other hand, fresh sell-off is seen happening only below 1.3054 levels. Unless, we don’t see a breach of 1.3315-1.3054, traders could continue to play the range.