Estimated pivot point is at the level of 0.9830.
Our opinion: Buy the pair from correction above the level of 0.9839 with the target of 1.0010 – 1.0072.
Alternative scenario: Breakout and consolidation of the price below the level of 0.9839 will trigger the decline in the pair to 0.96 – 0.95.
Analysis: Presumably, the formation of the upward correction continues as the second wave of the senior level, within which the final wave с of 2 is being formed. Locally it seems that the third wave of (iii) of the junior level is being developed, within which the fifth wave v of (iii) is being formed. If this assumption is correct, the pair will continue rise up to the level of 1.0010 – 1.0072. Critical level for this scenario is 0.9839.