The pair perhaps completed its 3rd bullish wave on the daily chart when it reached the second target of that wave at 1.618 FIB extension around 0.9660.
Now the pair is within its 5th daily bullish wave, the first target of that wave is at 0.618 FIB extension around 1.0010. However, before that the price is facing strong horizontal and dynamic resistance between 0.9780 – 0.9930 and we may see consolidation and pullback around this resistance zone.
Strong support level to watch for rejection and resumption of the bullish daily trend in case of a pullback are, 0.9450 – 0.9550 and below that is 0.9250.
Monthly chart:
Weekly chart:
Daily chart:
