Overview:
The price is probably going to form a strong support at 0.9260 (below 00% of Fibonacci retracement levels in the H1 chart, it is formed the last bearish wave for the last week). The saturation is likely to take place around 0.9260 because this level also forms the first strong support for April 8-12, 2013. Therefore, it is possible that the market will start showing bullish signs. The daily pivot point is set at the level of 0.9394. In other words, buy deals are recommended above 0.9260 with the first target seen at the 0.9310 level and further at the 0.9390 level. Therefore, it should be noted that in the point of 0.9394 a strong resistance (it is the weekly pivot point).
Weekly technical levels:
R3: 0.9692, R2: 0.9609, R1: 0.9477
PP: 0.9394
S1: 0.9262, S2: 0.9179, S3: 0.9047
If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.
