Our preference: SHORT positions below 1.33 with 1.3255 & 1.323 in sight.

Alternative scenario: The upside breakout of 1.33 will open the way to 1.3325 & 1.336.

Comment: the pair has broken below its support and remains under pressure.

Our preference: LONG positions above 1.577 with 1.5835 & 1.587 in sight.

Alternative scenario: The downside penetration of 1.577 will call for a slide towards 1.5735 & 1.568.

Comment: the pair is facing a pull back on its support ahead of a rebound.

Our preference: LONG positions above 99.25 with targets @ 100 & 100.2.

Alternative scenario: The downside penetration of 99.25 will call for 99 & 98.75.

Comment: the pair remains on the upside and is approaching its next resistance.

Our preference: Short positions below 132.85 with targets @ 131.85 & 131.35 in extension.

Alternative scenario: Above 132.85 look for further upside with 133.3 & 133.75 as targets.

Comment: the pair is posting a rebound but stands below its resistance.

Our preference: Short positions below 157.85 with targets @ 156.5 & 156.05 in extension.

Alternative scenario: Above 157.85 look for further upside with 158.3 & 158.55 as targets.

Comment: the pair is rebounding but stands below its resistance.

Our preference: Short positions below 0.9275 with targets @ 0.918 & 0.915 in extension.

Alternative scenario: Above 0.9275 look for further upside with 0.9315 & 0.935 as targets.

Comment: as long as 0.9275 is resistance, look for choppy price action with a bearish bias.

Our preference: LONG positions above 4045 with 4125 & 4169 in sight.

Alternative scenario: The downside breakout of 4045 will open the way to 3990 & 3930.

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

Our preference: LONG positions above 8428 with targets @ 8560 & 8595.

Alternative scenario: The downside penetration of 8428 will call for 8325 & 8270.

Comment: the RSI is supported by a rising trend line.