After a clear break above its long term descending trendline, the pair has been pulling back on this former resistance and is now trading near the 1,44 level.
If the breakout is confirmed with a resumption of the bullish move today, next target will come at 1,47 (weekly bollinger band).
Inversely, a break back below the trendline become support would negate this bullish outlook and expose further decline towards next support at 1,42.
Provided by atf-forex-trading.com