The pair has formed a rising broadening wedge
pattern on daily basis, where yesterday, the prices turned from the lower trendline
of the pattern, rebounding from the crucial support of 1.20200, creating a double bottom
. The prices can reach the level of 1.22860 with an intermediate target at 1.21606. On the other hand, initial support lies at the 1.20200 and then at 1.91533.