Estimated pivot point is at the level of 1.0078. 

Analysis: Presumably, the formation of the third wave 3 of the senior level continues. Locally it seems that the one-two impetus as the wave (i) has been formed. If this assumption is correct, the pair may decline to the level of 0.9945 in the second wave (ii). Critical level for this scenario is 1.0078. 

Alternative scenario: Breakout and consolidation of the price above the level of 1.0078 will trigger rise in the pair up to 1.0160. 

Our opinion: Sell the pair from correction below the level of 1.0078 with the target of 0.9945. 




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