Technical Outlook and Chart Setups:
The single currency pair is holding 103.60/70 levels for now. A push above 104.00 level is required to register fresh highs at 104.75. It is recommended to hold long positions taken earlier. On the flip side, a drop below 102.50 would threaten a break down towards 101.70 level. Prices have bounced from the Fibonacci 0.5 support and more probable direction from here is a push through 104.00 level. Intermediary support is just above 102.00 level while resistance is placed at 104.20 level.
Trading Recommendations:
Hold long positions for now. Stop at break-even. Target at 104.75.
Good Luck!
