Pair’s recovery from post payrolls low of 102.80 followed by a move higher to 103.78 amid recovery in the treasury yields and sell off in the JGBs suggests the spot is likely to test the falling trend line resistance if 104.34 levels.
The rising daily RSI above 50.00 adds credence to the bullish view.
On a larger scheme of things, a day end close above 104.34 would signal major trend reversal.