The price recently touched the resistance level of 1.2877 and subsequently reversed to test its previous barrier around 1.2740. As a result, the price is expected to consolidate between 1.2697 and 1.2820 until a breakout occurs.
Bullish Scenario: A break above 1.2819 will support a bullish trend, targeting the levels of 1.2877 and 1.2956.
Bearish Scenario: the price can reach the support level at 1.2697. However, a break below this level is necessary to initiate a bearish trend towards 1.2541.
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