Price is right on major support at 1.0400 (2x Fibonacci projection) which gives us confidence to see a rise to at least 1.0475 resistance (overlap resistance, Fibonacci retracement).
RSI (34) is also seeing major support and displays bullish divergence vs recent price movement.
Buy above 1.0400. Stop loss is at 1.0375. Take profit is at 1.0475
The material has been provided by InstaForex Company – www.instaforex.com