We were expecting a bullish resumption on the pair some days ago as the market found some good support on the 38% fib retracement level.
On the contrary, we did see a continuation of the consolidation but the main uptrend is not in question. As long as the market holds above 0,9780 (range bottom and 38% fib retracement), we will expect a bullish resumption anytime soon. A break below this level though would expose further setback towards next key support at 0,97 (weekly 20 moving average).
The first target to the upside is of course parity which will probably offer a great resistance.
Provided by atf-forex-trading.com