The parity price is on a rally. But soon it will face a strong resistance in the precinct of 1.1460 – 1.1480 area where the upper band of the ending diagonal, 50.0 Fibonacci retracement level, and an estimated end of correction are located. The level 1.1500 is also a probable turning point. If the price movement confirms the prediction, it will bounce the mentioned range off and meander, heading towards the lower band of the formation, in the vicinity of 1.1230.
If the rally continues due to the fundamental factors, 1.1600 will be a long-term target.
If the rally continues due to the fundamental factors, 1.1600 will be a long-term target.