On the four-hour chart we can see that the pair tested the lower boundary of the upward trend in 1.6337 and is now trying to mature to hike to the top edge of this trend today is 1.6620. Under favorable news for the currency pair this goal can be achieved in a week. When a sudden breakout of this level and then wait a couple of 1.6330 bottom first at 1.63 and then at 1,615, which represents 23.6% Fibonacci level in an uptrend on the weekly chart. I prefer the development of the first embodiment, however, if there is a drastic curtailing the U.S. Federal Reserve to support the economy, perhaps the sharp appreciation of the dollar against the other currencies.Thank you all for your attention
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