The 1.58 level has held strongly as a pivot zone and recently price has bounced off this support. Rather surprisingly, price has continued to push through the 1.59 level which is now acting as support. With this in mind, price has formed a very large BUOB off the 1.59 level indicating a potential turn around for this pair. Couple this with long term divergence on MACD data, I believe its highly likely price will continue to the 1.61 level.