The pair started downside movement from the distribution point 1.022. Break of the support level 1.016 enabled the pair to correct to 1.020 where the main trendline is located.
At the moment the pair has resumed downside movement with a target to overcome the support level 1.015 and go down to 1.011.
An upside correction is expected as soon as the price approaches the 1.011 support.
Alternative option: Break of the resistance level 1.020 will completely change the trend to the upside and the pair will be targeted at 1.026.
Support levels: 1.011
Resistance levels: 1.020
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