Estimated pivot point is at the level of 1.0870.
Our opinion: Sell the pair from correction below the level of 1.0870 with the target of 1.0450 – 1.0340.
Alternative scenario: Breakout and consolidation of the price above the level of 1.0870 may trigger the rise in the pair up to 1.10 – 1.11.
Analysis: Presumably, upward correction has completed as the fourth wave iv of 3, which took a shape of the irregular plane. Locally, it is likely that the one-two impetus as the wave (i) has been formed. If this assumption is correct, after the completion of the correction (ii) the pair will decline to the level of 1.0450 or below in the fifth wave. Critical level for this scenario is 1.0870.