You need to look at the bigger picture to see what's going on. 1.0713 isn't a significant level. Price just broke above a major trend line on the daily chart with room to go to the next major resistance areas. The 1hr has been in a descending channel in an uptrend over the last two days. This a a great trend continuation setup. Notice the wide range 1hr bar closing above several candles as it breaks outside of the range.
http://i.imgur.com/EoVlQl.jpghttp://i.imgur.com/vXF7Dl.jpg