There Is An Impending Rally To The Resistance At 112.65

The double bottom on the H1 time frame, the bullish RSI divergence on the same time frame and the strong support on the D1 time frame are the three strong signals for such a movement that cannot be overlooked.

 The two lows of the double bottom are at 111.650 and 111.659.

Regarding the second signal – there is a strong RSI divergence between three lows, which, if it reaches its limit, should lead the pair to 112.65. The resistance on the H4 time frame is also at that level, which makes this rally even more likely.

 However, we should keep in mind that such a rally will most likely be corrective and after it is over we could see a drop to the support in the zone around 111.00 – 110.50.