Our preference: SHORT positions below 1.3265 with 1.316 & 1.313 in sight.

Alternative scenario: The upside penetration of 1.3265 will call for 1.33 & 1.3335.

Comment: the pair stands below its resistance and remains on the downside while the RSI is capped by a horizontal resistance and broke below a rising trend line.

Our preference: Long positions above 1.5425 with targets @ 1.553 & 1.556 in extension.

Alternative scenario: Below 1.5425 look for further downside with 1.533 & 1.527 as targets.

Comment: the RSI lacks downward momentum.

Our preference: Short positions below 0.9315 with targets @ 0.923 & 0.917 in extension.

Alternative scenario: Above 0.9315 look for further upside with 0.936 & 0.9415 as targets.

Comment: the RSI lacks upward momentum.

Our preference: Long positions above 1.032 with targets @ 1.042 & 1.044 in extension.

Alternative scenario: Below 1.032 look for further downside with 1.027 & 1.0235 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Our preference: SHORT positions below 96.9 with targets @ 94.7 & 93.7.

Alternative scenario: The upside penetration of 96.9 will call for 97.6 & 99.2.

Comment: as long as 96.9 is resistance, expect a return to 94.7.

Our preference: SHORT positions below 1326 with 1270 & 1244 in sight.

Alternative scenario: The upside penetration of 1326 will call for 1351 & 1375.

Comment: the upward potential is likely to be limited by the resistance at 1326.

Our preference: SHORT positions below 14970 with 14580 & 14400 as next targets.

Alternative scenario: The upside breakout of 14970 will open the way to 15130 & 15280.

Comment: the RSI is capped by a bearish trend line.

Our preference: SHORT positions below 1615 with 1553 & 1546 in sight.

Alternative scenario: The upside penetration of 1615 will call for 1633 & 1649.

Comment: the RSI is capped by a bearish trend line.