Looking at the monthly chart, the pair is reversing from the 1.02000 level and has broken above the median line of the downside Pitchfork channel. This is making the case for the retest of 1.12000-1.15000 zone.
The weekly chart reveals the immediate retest of the falling trend line intersection with key 1.10000 level. The clear daily close above this level is required for the mentioned upside continuation into 1.12000-1.14000 zone.
On the daily chart, we can clearly see the support 1.08700-1.09300 zone which needs to hold for the upside continuation above 1.10000. The close below this zone will lead to a retest of 200 SMA 1.08323 level. Near-term target based on the Fibo extension is 1.12350 level.
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