Approaches strong support at 1.0570 levels, further weakness can be seen only on breaks below.
- Daily Stochs are deeply in oversold territory, while RSI has turned higher after dipping below 40 levels.
- MACD indicator shows bearish momentum is fading, a crossover of the MACD line over signal line should be further confirmation.
- Downside seems to have stalled at 0.60 levels (Feb 10th lows and session lows till now), which will be immediate support on the downside ahead of 1.0570 (trendline).
- On the upside immediate resistance is seen at 1.0645 (5-DMA) and then at 1.0687 (Feb 10th highs).
Recommendation: Go long on breaks above 5-DMA at 1.0644, SL: 1.0570, TP: 1.0710//1.0745/1.08


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