Recovery attempts pick up on Thursday and forming reversal pattern on daily chart, as Wednesday’s trading ended in Doji candle and base forming at 0.7475. Slow stochastic and RSI reversed from oversold zone, while momentum turned higher and supporting the notion. Fresh strength broke above Wednesday’s high and approaches falling 10SMA (0.7561) break of which would be bullish signal for extension towards next pivot at 0.7602 (Fibo 38.2% of 0.7812/0.7472 bear-leg). Close above the latter is needed to confirm reversal and open way for stronger retracement of 0.7812/0.7472). Broken hourly cloud (0.7521/02) marks initial support, guarding 0.7475 base.
Res: 0.7561, 0.7583, 0.7602, 0.7634
Sup: 0.7571, 0.7502, 0.7475, 0.7423
