Price is testing a key support zone at 133.80 on the H4 timeframe, which is in line with the 38.2% Fibonacci retracement. A throwback to this zone could present the opportunity to ride the bounce to the resistance zone at 135.20, which coincides with the 50% Fibonacci extension level and graphical high. Price is holding above the Ichimoku cloud and Stochastic RSI is in the oversold region below 20, supporting our bullish bias.
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