Estimated pivot point is at the level of 1.09.
Our opinion:Buy the pair from correction above the level of 1.09 with the target of 1.1164 – 1.1230.
Alternative scenario: Breakout and consolidation of the price below the level of 1.09 will trigger the decline in the pair to 1.08 – 1.07.
Analysis: Presumably, downward correction of the senior level continues as the wave ii of 3 has completed in the 4-hour timeframe. At the moment, it is likely that the wave (c) of ii has formed as an impetus. If this assumption is correct, the pair can go up to 1.1164 – 1.1230, or higher.