During its downward pullback on Wednesday, the pair tested the pullback level of 23.6% equivalent to 1.0865 (blue dashed line) and then continued to move upward, testing the 21 average EMA at 1.0909 (black thin line). Today, strong calendar news for the dollar is expected at 13:30 and 15:00 UTC. The price may continue to move up.

Trend analysis (Fig. 1).

The market may continue to move up today with the target of 1.0956, the pullback level of 38.2% (red dashed line). Upon reaching this level, continuation of work up to the support line of 1.0971 (red bold line).

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

A continued upward movement is expected today with the target of 1.0956, the pullback level of 38.2% (red dashed line).

An unlikely scenario is from the 21 average EMA of 1.0909 (black thin line), work down with the target 1.0883, the retracement level of 23.6% (blue dashed line). Upon reaching this level, the next lower target is 1.0863, the retracement level of 38.2% (blue dashed line).