Preference: Long positions above 1.0335 with targets @ 1.042 & 1.047 in extension.
Alternative scenario: Below 1.0335 look for further downside with 1.031 & 1.028 as targets.
Comment: the break above 1.0335 is a positive signal that has opened a path to 1.042.
The red lines are the supports, the green lines are the resistances and the blue line is the pivot point (the key level where we would turn bullish from bearish, or bearish from bullish). There is no one-way for calculating our supports and resistances. We favour the use of Fibonacci levels (either via a retracement or a projection), along with classical technical levels (gaps, horizontal lines, etc.). The choice will depend on the current market configuration.
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