The pair has confirmed a bullish bias by breaking above last week high and is now testing a strong descending trendline.
A clear break above this resistance exposes 1,46 corresponding to the daily bollinger band. Inversely, a new fail might signify a reversal going forward (3rd lower top since May).
We favor a continuation of the uptrend considering the overall setup and the pressure on the US Dollar.
Provided by atf-forex-trading.com