Type : Bullish Rise Resistance : 1.04785 Pivot: 1.04350 Support :1.03890
Preferred Case: On the H4, with RSI is showing an ascending trend, and the price is consolidating now, we would hold a short term bullish bias that price may rise from the pivot at 1.04350 where the swing highs are to the 1st resistance at 1.04785 where the overlap resistance is.
Alternative scenario: Alternatively, price could drop to 1st support at 1.03890 where the 38.2% fibonacci retracement is.
Fundamentals: US CPI was out yesterday, which caused a big jump of the USD, the price may pullback after that.