Recommendations: LONG positions above 1.5355 with 1.5400 & 1.5440 as next targets.
Alternative scenario: The downside breakout of 1.5355 will call for a slide to 1.5300/260.
Description: The pair trades above its support at 1.5355. As long as this level holds. It will move higher towards 1.5400, ahead of 1.5440 levels, an hourly close below 1.5355 will reverse risks to the downside towards 1.5300/260 levels.