Preference: Long positions above 1.041 with targets @ 1.0525 & 1.0555 in extension.
Alternative scenario: Below 1.041 look for further downside with 1.036 & 1.031 as targets.
Comment: the RSI has just landed on its neutrality area at 50% and is turning up.
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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