Potential long trade on this pair as it has been ranging (1H), and retracing at 0.886 fibonacci level. There are other factors to consider in taking long setup which is an oversold RSI
, and the price action, where there is a pinbar
formation rejecting the current fibonacci level which act as a support zone
. Stop loss is placed below the recent low around 94.900 area and targeting 95.771 which provides a decent risk reward ratio.