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The price bounced from the support level at 0.99 and after rebounding from 1.029 slowed near 1.023 where the pair is currently trading. The Stochastic indicator is below its critical value of 20% suggesting a bullish market outbreak while such scenario is also supported by indicators on 4H and 1D time horizons. Long traders could focus on the resistance level at 1.028. If this level will be breached next target could be the second resistance level at 1.032.
Majority of 1 H time horizon indicators suggest that bearish market rally. Is highly possible. Short traders could focus on the 1.021 level. If pair breaches this level next possible target could be at 1.015 level.
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