The pair has broken above a downslope resistance trendline drawn from January’s highs and the 50-day moving average (DMA) at around 1.0860/70, opening the door to challenge 1.0900. Once that level is cleared, the next resistance emerges at 1.0932, the January 24 swing high, followed by the January 11 high at 1.0999, shy of 1.10. On the other hand, if prices fail to stay above the 1.0860 area, look for a deeper pullback towards the confluence of the 100 and 200-DMAs at around 1.0831/34 before testing 1.0800
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