The depicted uptrend line remains intact since it was established in November 2013.

Successive ascending bottoms were established around 1.5850, 1.6250, and 1.6460, and recently another ascending bottom around 1.6565 was established.

The pair has established new resistance levels between 1.6765 and 1.6815 during February and March. These levels correspond to the previous tops in a successful Double Top pattern.

A bullish impulse was initiated this week around 1.6565 pushing towards price zone of 1.6765 - 1.6815. Bearish price action is expected to be expressed during this visit.

Re-closure below 1.6765 exposes price level of 1.6730 then a stronger support zone between 1.6640-1.6610, in case the intraday support fails to hold price above.