Preference: Long positions above 1.038 with targets @ 1.0445 & 1.047 in extension.
Alternative scenario: Below 1.038 look for further downside with 1.035 & 1.033 as targets.
Comment: the ascending 50-periods moving average (in blue) maintains a bullish bias while the RSI is supported by a rising trend line.
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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