On the upside, above 1.6020/40 (day highs), the pair might find resistance at 1.6115 (Aug 10 high) and 1.6200 (Sept 6 high). On the downside, support levels lie at 1.5965/75 (session lows), and below here, 1.5900 (Oct 24 low) and 1.5845/50 (Oct 14/17/19 highs).
The overall bias remains positive, according to Stoyan Mihaylov, analyst at Deltastock who warns about a decline to 1.5650: "A new local high has been reached at 1.6021 and the overall bias remains positive while trading takes place above 1.5853 major support. I continue to favor a reversal for a slide through 1.5963 and 1.5853, towards 1.5650."
