Price is currently range bound between the high of 1.1080 and the low of 1.0920. However, price is hovering over a key support zone at 1.0950. A throwback to this support zone, which coincides with the 78.6% Fibonacci extension, could provide the bullish acceleration to the resistance zone at 1.1050. RSI exited the oversold region at 40, supporting our bullish bias.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.