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The pair slowed near the support level around 1.0247, and now is trying to rebound. The RSI indicator supports the idea of a possible price recovery, after it bounced off the critical 30% level. If the price grows, the forecast target for bullish investors could be around 1.0406, where the present resistance level stands.
The present bias remains neutral on 1h timeframe, while indicators on 1D chart point at a Sell signal. Bears may focus their attention on the key level around 1.0318. If the price rebounds from 1.0318, the next possible target for bears would be around 1.0229. If it breaks the support at 1.0229, the second target for short traders might be 1.0188.
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