the upside prevails as long as 1.6386 supports.
the downside breakout of 1.6386 would call for 1.6338 and 1.6310.
the is above 50. The is above its signal line and positive. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 1.6413 and 1.6401).