We remain bullish above support at 0.7010 (Fibonacci projection, bullish divergence) looking for a push up to the 0.7112 level at least (Fibonacci retracement, recent swing high resistance).
RSI (34) is also seeing a bounce from support at 36%, and bullish divergence vs price signals that a bullish reversal is approaching.
Buy above 0.7010. Set stop loss at 0.6950 and take profit at 0.7112.
The material has been provided by InstaForex Company – www.instaforex.com
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