The price is at major resistance at 1.0596 (Fibonacci retracement, horizontal resistance) where we expect a reaction from and a drop to at least 1.0477 (Fibonacci retracement, horizontal overlap support).
Stochastic (21,5,3) is also seeing major resistance from our 94% level.
The RSI (34) is also seeing major resistance from the 64% level where our previous major reversal occurred.
Sell below 1.0596. Stop loss at 1.0661. Take profit at 1.0477.
The material has been provided by InstaForex Company – www.instaforex.com
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