The pair is supported as Treasury yields rise, as well as due to the uncertainty around Donald Trump’s stimulus checks, which are bombarded by his political opponents from the Democratic Party. If these two factors remain in effect, the pair will move higher.
Technical picture:
The price is above …
The price pivot zone of 0.9468 is holding back sellers. A bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator showed an exit from the oversold zone. A breakout of the resistance level of 0.9512 will result in the formation of an ascending pattern of 1-2-3.
#FRE
The 38.55 support level is holding back sellers. Stochastic Oscillator indicates an oversold condition. A breakout of the price pivot zone of 40.47 will result in the formation of an ascending pattern of 1-2-3.
Trading recommendations:
Buy above 40.47.
Stop Loss: 38.55.
Target levels: 42.12; 46.22.
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