The price continues to test our major buying support level. We remain bullish looking to buy above major support of 108.85 (Fibonacci extension, horizontal swing low support) for a push up to at least 110.28 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (21,5,3) is approaching our 2.3% support level where we expect a bounce from.
Buy above 108.85. Stop loss is at 108.28. Take profit is at 110.28.
The material has been provided by InstaForex Company – www.instaforex.com