The price has tested our buying level and has bounced perfectly from it. We remain bullish above 1.2633 (Fibonacci retracement, Fibonacci extension, horizontal pullback support, bullish divergence) and we expect a further rise above this level to at least 1.2886 resistance (Fibonacci retracement).
The RSI (34) sees major support above the 26% level where we expect a bounce from and also sees bullish divergence signalling that a strong bounce is expected.
Buy above 1.2633. Stop loss at 1.2483. Take profit at 1.2886.
