The currency pair is trading in the range of 135 and 365 moving averages. The overall movement is upward. The downward construction ended with the breakthrough of the inclined channel. The breakout of 109.62 will result the formation of an H1 level ascending structure within the ascending wave (C) of the H12 level.
Trading recommendations:
Buy above 109.62.
Stop loss – 109.00.
Target levels – 110.20; 110.50; 111.77.