We recently bounced of the major weekly support / Monthly S1 Pivot
and since last week we are on a rally. Now we are at the previous highs, so a retracement is expected. At the 1.48-1.47 level we have a cluster made out of Monthly central Pivot
, Weekly Central Pivot
, .382 Fib retracement. Price has previously bounced of the 21 EMA
twice, showing a strong upside moves. If we get a deeper one to the 55EMA and bounce it will also be in the buy zone.