The pair has bounced back sharply from USD 1.33 levels which I have projected 2 weeks back and has approached the prior swing high of USD 1.3550. Now Crucial level to watch out for is USD 1.3550 which is likely to hold and turn the prices down to retest USD 1.33 levels ahead of turning higher. On the lower side level to watch out for is USD 1.3430. A break below the same will confirm the downside target of USD 1.33. As long as USD 1.3430 holds further extension of gains towards 1.3625 can be seen hence has to be carefully watched.