a wider range as long as it remains above its pivot point. therefore, long positions are recommended with the first target at 162.85 and the second one at 163.40. in the alternative scenario, short positions are recommended with the first target at 160 if the price moves below its pivot points. a break of this target is likely to push the pair further downwards, and one may expect the second target at 159.40. the pivot point is at 160.70.
we have likely seen a low at 1.6229 just above the 1.6210 target. to confirm that a low has been seen, we need a break above minor resistance at 1.6508 and, more 