After trying unsuccessfully to break the key support at 1.1940, the bears finally threw in the towel. The down-slopping resistance line is broken decisively to the upside and the recent high is breached as well. The fact that the bulls were able to take out the high of the yesterday's massively bullish Marubozu candle shows that the bullish breakout is authentic and not to be taken lightly.
I favor a long here and adding to my positions on any dips.