This week’s trading started above the ascending key support level, as the pair failed to break the support level on Friday and remained stable above 1.2970. Stability above the mentioned level might trigger a bullish wave this week, while breaking it could trigger a new downside move that leads to touching levels around the previous top 1.2796.
The trading range for this week is among the key support at 1.2725 and key resistance at 1.3230.
The general trend over short term basis is to the upside targeting 1.3600 as far as areas of 1.2970 remains intact.