Pivot: 1.3275 Our preference: long positions above 1.3275 with targets at 1.3340 & 1.3360 in extension. Alternative scenario: below 1.3275 look for further downside with 1.3250 & 1.3220 as targets. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited. Supports and resistances: 1.3380 ** 1.3360 * 1.3340 ** 1.3300 Last 1.3275 *** 1.3250 * 1.3220 **